The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf The German stock market continues to improve. On Tuesday morning, the Dax listed 0.4 percent plus at 15,861 points. On All Saints’ Day the stock market barometer closed at 15,806 points, an increase of 0.6 percent.
The Frankfurt benchmark tore up an upward price gap (technical jargon: gap), because the lowest point of the previous day with 15,760 digits was above the highest price of last Friday with 15,690 meters. It’s a sign of strength. The market was virtually re-evaluated, because there was no trading between the two price levels. As long as the Dax does not close this gap, it is reasonable to assume that the index will reach a new record high in the coming week at the latest.
Martin Utschneider, technical analyst at the private bank Donner & Reuschel, describes this open price gap as a “glimmer of hope, perhaps even as the starting signal for a beginning year-end rally”.
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