ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40:The Intensity of Relaxation in the Index May Increase
Today, London-based global information provider IHS Markit's manufacturing purchasing managers index (PMI) data for the Euro Zone was published. A limited recovery was seen in the DAX40 index, as the market pointed to an expansion with 54.6 points, above the market expectations. However, at the European Leaders' Summit held over the past two days, with the leaders agreeing in principle to cut 90 percent of oil imports from Russia to the European Union (EU) by the end of the year, the concern that cost pressures will increase on German companies, which are already highly dependent on Russian energy, weighs heavily on pricing. . Under this outlook, the index, which cannot sustain its recovery, can lose value up to the level of 14 090, which was last seen on May 26, if it can break the 14 270 support with the resolutions it signals. In possible upward attempts, 14 585 will continue to be strong resistance.
