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 grow: At noon, the Dax is 0.4 percent up at 15,522 points. Before the trading session, the stock market barometer was already quoted at 15,534 points. The Frankfurt benchmark ended yesterday’s trading day 1.4 percent up at 15,462 points.
But it would be a surprise if the German benchmark index continues to rise significantly on today’s trading day or even closes at a price above 15,600 points. Because that would be a signal for further gains towards 16,000 points.
Since the low of 14,818 points on Wednesday last week, the Dax has risen almost 700 points. For Martin Utschneider, technical analyst at the private bank Donner & Reuschel, the stock market barometer is “out of the woods”, but he sees “no final trend reversal yet”. Especially since the index is overbought, i.e. it has risen too high too quickly, which is more likely to encourage sales.
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