Dusseldorf The German stock market only really gets going after the close of trading this Wednesday. Then the US Federal Reserve will probably raise interest rates by 25 basis points and present an interest rate outlook that has the potential to end the three-week sideways phase in the German benchmark index.
Investors are now looking forward to the decision: the Dax is up 0.5 percent in afternoon trading at 15,200 points. However, the leading German index remains in a sideways range, extending from 14,906 points on the lower and 15,270 points on the upper side.
According to chart technology, a sustained breakout of this range should point the way for the development of the stock markets in the coming weeks and months. Because a sustained slide below the 14,800 point mark could result in a longer period of consolidation – possibly even a correction, a drop of at least ten percent. That would be a slide up to 13,700 points.
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