ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40:Selling Pressure Preserved in Index
The rise in natural gas prices in Europe continues as Russia cuts gas flow. As a matter of fact, while the futures natural gas contracts in the Dutch stock market maintain their high levels at 132 euros, cost increases in German companies, which are highly dependent on Russian energy, continue to keep their concerns alive. On the other hand, the expectations that the European Central Bank (ECB) will increase interest rates by 190 basis points by the end of the year, despite high inflationary pressures in the Euro Zone, suppressed the index. The business climate index's decline to 92.3 points, below market expectations, is also affected by the data of the Ifo Economic Research Institute in Germany today. Technically, DAX40, which signals downward movements in the quotations on the last trading day of the week, can decline to 12 620 support, which is the lowest level of about 4 months, if it stays behind the 12 800 level. In case of possible upward movements in the index, 13 140 resistance may enter the radar of market players.
