ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40: Recent Downward Movement in the Index May Accelerate
The day we left behind, we observed the selling movements in the DAX40 index, while the president of the European Central Bank (ECB) Christina Lagarde referred to July to start raising interest rates. In addition, consumer inflation in Germany, which was announced at the highest level since 1974, provides selling pressure on the index. Beside, there is a high level of stress on the 4th day of the week in Europe. If the index, which is on a downward path with the pullbacks from the strong resistance it experienced at the 50-period simple moving average, can permanently break the support of 13 350, the losses could continue to the 13 220 level. In the possible upside scenario, the 50 MA above 13 640, which points to 13 800, is followed.
