Dax is consolidating its short-term upward trend – the Turkish central bank has set a dangerous downward spiral in motion

Dax curve

The leading German index has already reached several new record highs this year.

(Photo: Bloomberg Creative / Getty Images [M])

Dusseldorf The German stock market should say goodbye to the current trading week in a friendly manner. At noon, the Dax rose 0.9 percent to 15,605 points.

The German benchmark index has thus confirmed its short-term upward trend that it began last week. On a weekly basis, there was a new high and a higher low, the classic definition of an upward move. Last week’s high was 15,598 points and was exceeded this Friday afternoon. Last week’s low of 15,012 digits was never seriously compromised.

If the Dax should be above the 15,600 point mark at the end of trading, the chances are good that the Frankfurt benchmark will continue its rally and rise towards 16,000 points. For Jörg Scherer, technical analyst at HSBC Germany, a breakout above 15,600 points would be “the next buy signal towards a record high”. The record high is 16,030 points and was reached in mid-August.

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