DAX JUMPS TO NEW RECORD CLOSING HIGH

After the 3 and 10-year bond auctions, which were observed to be good in the USA, the purchasing potential in the indices increased after the 10-year bond interest rates in the USA decreased to 1.52 percent. It has been announced that the stimulus package of the USA passed by the Senate was accepted in the House of Representatives and submitted for the signature of US President Joe Biden. On the other hand, after the recovery in the employment market regarding the US economy, the increase in February inflation by 0.4 percent created a recovery movement on the indices. Following these developments, we see that the DAX index increased by 0.7 percent to 14,540.

If we talk about the developments in Germany, the foreign trade balance was at the level of 22.2 billion Euros in January. In addition, January exports increased above expectations by 1.4 percent in the country, while the import figure shrank by 4.7 percent. While the OECD has announced that they expect Germany to see a growth of 3.0 percent in 2021, it is seen that the expectations for 2022 are shaped at the level of 3.7 percent. After these developments, we see that the record rises continue to be maintained in the DAX index, which is positively differentiated compared to the global indices. The European Central Bank (ECB) meeting, which will be monitored on the index side today, may cause dynamism on the index side.

In the technical view of the DAX index, it is seen that the prices have accelerated the upward momentum as they climb above the 14,400 level. Depending on the mobility above this level, it can be expected that the increases in the index will accelerate within the 14,750 and 15,100 resistance levels. However, depending on a possible easing potential, we continue to follow the initial support levels of 14,400 and below this level, the support levels of 14,100 and 13,800.