The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf The search for direction continues on the German stock market. The Dax is down 1.2 percent at noon and is trading at 12,810 points, a drop of around 100 points.
As recently as yesterday, Tuesday, the leading index was able to gain 0.6 percent due to a friendly opening on the US stock exchanges and ended trading at 12,905 points. However, prices on Wall Street fell again after the stock market closed in Germany.
Only with courses below 12,390 points should the Dax slide south again, the previous low for the year from Tuesday last week. Until then, however, this short-term upward movement will remain intact.
It should probably only go further north with sustained prices above 13,000 points, the hard-fought resistance level in June. Prices above 13,300 points would be better, then the downward trend since the beginning of the year would have ended for the time being.
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