Dax is facing a “bottleneck” – Successful professionals are becoming more cautious

Dusseldorf After the significant gains of the previous day, the Dax is now facing its test. Will the leading German index manage to overcome the massive bundle of barriers? For Martin Utschneider, technical analyst at Donner & Reuschel, the starting point is clear. “The Dax is like a camel in front of the eye of a needle,” he explains. “This one seems to be literally ‘clogged’ though.”

To put it more concretely: The important decision as to whether the leading German index will leave its downward trend since the beginning of the year depends on whether it can sustainably leave the area between 15,616 and 15,668 points. All three important average lines are noted there, which reflect the short, medium and long-term trend – from the 38 to the 100 to the 200-day line. For a breakout to the upside, these three lines would have to be sustainably exceeded. “Everything stands and falls in the short term with the resistance barrier of 15,616 to 15,668 points,” says Utschneider.