Dusseldorf Are the current price gains of over 1400 points just a bear market rally, i.e. an upward movement within an intact downward trend? Or does this increase mean a trend reversal in the stock market? Then there would be no new lows for the year.
From a purely formal point of view, the leading German index is still in a bear market – even if the Dax gained a further 0.55 percent on Thursday after gaining the day before and ended trading at 13,663 points.
Also in purely formal terms, the Dax would switch back to rally mode if it rose by more than 20 percent since the year’s low, which would only be the case at prices above 14,868 points. According to the technical analysis, the resistance, which should decide on the future path on the stock market, also lies in the rough area around 15,000 points. No wonder the two previous bear market rallies within the year-to-date downtrend ended at 14,925 and 14,709.
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