ANALYSIS
NQ100 Finds Support from PPIApr 14
Support for DAX40 Continues
Yesterday, the European Central Bank (ECB) increased interest rates by 75 basis points for the second time in a row, causing the DAX40 index to drop a little. However, the fact that the bank did not put on the agenda a planned downsizing of the balance sheet supports the index. In addition, according to the preliminary reading data of the Federal Statistical Office (Destatis) today, the risks of recession eased as the gross domestic product (GDP) in Germany grew by 0.3 percent in the 3rd quarter despite the market's expectation of decline, which increases the support for the index. From this point of view, if the DAX40 index, which is seen to maintain its upward trend on the last trading day of the week, rises above the 13 270 level permanently, it may open the way to the 13 440 resistance. In possible downward movements, 12 935 and 12 755 supports may remain on the agenda.
