BIST100 INDEX TURNS ITS DIRECTION UPWARDS AFTER FALLING
The markets started new week somewhat weak due to the political tension between US President Trump and US elected President Joe Biden over domestic policy. Democrats in the US House of Representatives officially submitted to the House the bill that they wanted the US President Trump to be removed because of the Congressional raid. The bill included headlines such as "abuse of office" and "deliberate incitement to violence against the US government". While this potential was felt on the BIST100 index side, the increases in the index were slightly suppressed. However, despite this view, it is seen that the index reached the level of 1549 with an increase of 0.87 percent. On the other hand, the fact that Joe Biden, who was elected President of the USA, will announce the details of the economic support package on Thursday instilled a slight positive complacency in the indices.
On the domestic side, President Erdogan announced that the restrictions will be gradually reduced, while the Covid-19 vaccine will begin to be applied on Thursday or Friday. On the first trading day of the week, the current account balance for November stood at $ 4.06 billion, while the unemployment rate was at 12.7 percent in October. On the other hand, the talks between Greece and Turkey have been announced to be held in Istanbul on 25 January.
In the light of all this information, if the BIST100 index continues to price at the 1550 limit, we follow the 1575 resistance level as the first crossing point of the rises. In a formation above this level, the buying potential can be expected to continue its upward trend with 1600 resistance. However, for a possible downward realization, 1525 support may be considered in the first place. It is useful to consider the 1500 and 1472 support levels below, especially at the point of exceeding this level.