DAX INDEX HOVERS NEAR ITS ALL-TIME HIGH
Noting that the epidemic risk continues despite the Covid-19 restrictions, German Chancellor Merkel announced that she expects the quarantine in Germany to last until April and that the quarantine period will be extended by eight to ten weeks if the communiqués are not effective. The German Finance Minister stated that the impact of the current quarantine on the economy is not very serious. In addition, the Minister said that there is no need for further incentives.
Although the political tension caused by the dismissal of Trump on the US side in global indices caused a slight pressure on the indices, today's incentive package expectations from the elected President of the USA, Biden, caused a recovery in the risk appetite in the markets. Thus, we see that the DAX index completed the day at 13.939 with an increase of 0.1 percent. ECB President Christine Lagarde's statement that the economy is still robust despite Covid-19 restrictions also seems to support the index rises.
Regarding the technical outlook of the DAX index, the increases in the index, which made a slight return from the record 14,100 level, were quite limited. However, if the index remains above the critical 13.800 level, the general trend direction trend can be expected to be preserved. In this context, our rising points will be 14,100 and 14,400 resistance levels. However, in a possible downward scenario, depending on the pricing below the 13.800 level, the support levels of 13.476 and 13.225 of the decreases remain current as important areas of action.