Global markets halted their bullish trend and showed a minor weakness in rising inflation. US Fed's favorite measure PCE climbed 6.4% in the year through Feb, the fastest level since 1982. Markets eye US Non-farm payroll data for further direction.
FTSE100-
Intraday trend- neutral
The UK index recovered slightly after a drop to 7485. It is trading well above 100 and 200 MA in the hourly chart. Any dip below 7480 (200-H MA) confirms intraday bearishness. A decline to 7450/7400/7352 is possible. The immediate resistance to be watched is 7600 level, any surge targets 7680/7750.
DAX30
DAX index retreats more than 20% from an all-time high on an escalation of the energy crisis. Germany buys more than one-third of its gas from Russia. The index hits a low of 12382 and is currently trading around 14414.
The near-term resistance is around 15000, any breach above targets 15181/15415. On the lower side, 14300 will be acting as immediate support, the violation below confirms further weakness. A dip to 14000/13800 is possible.
