The battle for the 12,000 mark is entering the next round

Frankfurt The German stock market is currently all about the 12,000 point mark. On Friday, the leading German index, the Dax, was down 0.9 percent in the first hour of trading at 12,084 points, just above this mark. Jochen Stanzl, analyst at online broker CMC Markets, attributes this to the fact that some investors are canceling their bets on a further fall in prices.

On Thursday, the Frankfurt Stock Exchange Barometer closed below this psychologically important level for the first time this year. After all, no new low for the year was reached during the course of the day. The Dax slipped to 11,867 points, but remained just above the low of 11,863 points reached on Wednesday.

This area is now of crucial importance, explains Jörg Scherer, technical analyst at HSBC: “Slipping below this zone would underline the ongoing downward movement again.”