DAXEUR

Global stock indices made a strong start to the new year. In the Asian market, China and Japan are moving in different directions, while the positive reactions from the US and Europe stand out. While the average 12-month analyst expectations for the indices range from 10-15%, it has been observed that some indices have met 40% and others 85% of this within the month. This situation may allow for upward revisions of analyst expectations thanks to the alignment of fundamental and technical indicators. The best-performing index of the month is the Dax40, noted for its optimism exceeding 9%. Following yesterday's ECB and US GDP data, we will conclude January today with the Fed's PCE (Personal Consumption Expenditures) inflation indicator.

When examining the Dax40 index from a technical perspective, the lower point of the Envelope indicator (21585) and the 21-period moving average (21650) are key levels in the short term. The index is expected to maintain its positive outlook above these reference indicators. In this context, possible rises towards levels such as 21900, 22017, and 22135 can be observed. Particularly, the upper point of the Envelope indicator (22017) along with the positive region defined by indicators like 22135 and 22455 is critical for a trend rally or reaction sell-off. In the event of a potential reaction, it should be noted that even if reference indicators are broken, the index's main trend is expected to remain positive above the 55-period moving average (21355) in the medium term. Important levels of the day: 21585 and 22017.