Dusseldorf A major consolidation was probably initiated on the German stock market. Because with today’s daily low of 14,305 points, the leading index has fallen below an important mark. Most recently, the Dax was down 0.9 percent at 14,323 points.
Because in the past few weeks, the leading German index has been trading in a trading range of around 250 points. This was marked by 14,327 points on the bottom and 14,584 points on the top. And this bottom was undershot with today’s trading day – probably a starting sign for a larger setback.
Even before trading started, it was clear to Jörg Scherer, technical analyst at HSBC Germany, that such a reaction would fit into the seasonal situation. “In early December, stock markets often experience a cyclical dip,” he explains. In addition, various indicators are “overheated” and point to stronger consolidation.
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