Dusseldorf The German stock market may be on the verge of major consolidation. Because during trading on Tuesday, the Dax tore an important mark. At the end of trading, the leading index was 0.7 percent weaker at 14,343 points.
The daily low on Tuesday was 14,305 points. The Dax has thus left the trading range of around 250 points in which it was last listed. This was marked by 14,327 points on the bottom and 14,584 points on the top. From the point of view of technical analysis, the fact that the Dax has now broken out is a sign of a major setback.
In addition, various indicators are “overheated” and point to stronger consolidation – this is not surprising given the 2700-point rally in the Dax since the end of September. Such spectacular price increases signal the need for consolidation rather than a continuation of the upswing.
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