The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf The year-end rally is announced on the German stock market. For the third day in a row, the Dax starts trading well above the previous day’s high. In the first hour of trading, the leading German index was trading at 15,634, an increase of 0.3 percent. This means that the Frankfurt benchmark has gained almost 600 points at its peak within three days. If the stock market barometer even comes close to maintaining this pace between the holidays, the mark of 16,000 points should be reached this year.
Martin Utschneider, technical analyst at the private bank Donner & Reuschel, is also optimistic that the Dax “will soon reach the previous record high of 16,290 points” – but this does not necessarily have to happen this year.
From a technical point of view, the foundation stone for this was laid yesterday, Wednesday. The Dax was able to overcome the 200-day line, which is mainly observed by long-term investors. The line is currently trading at 15,504 meters.
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