Dax closes in the black – but the signals for an end to the rally are increasing

Dusseldorf Federal Reserve Chairman Jerome Powell’s speech supports the German stock market. After the daily high of 14,563 points, the Dax slipped more than 100 points in the meantime, but closed again 0.7 percent up at 14,490 points. Off the floor there were prices of more than 14,600 points, which would have meant a continuation of the rally that has been ongoing since the end of September in regular trading. The rally’s high of over 2700 points since the end of September is 14,571 points.

Despite the price gains, there are increasing signals that this upward movement is coming to an end. The leading index apparently does not have the strength to rise to new historical highs. Tomorrow’s trading day should still be important: if the Dax ends trading above 14,541 points on Friday, the rally would reach the nine-week mark on a weekly basis.

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