Dusseldorf The German stock market is proving resilient in view of the high price losses in US technology stocks, although it started trading weaker. The leading index lost only 0.7 percent in the first hour of trading and traded at 13,113 points. The stock market barometer ended yesterday, Thursday, after a varied trading day, up 0.1 percent at 13,211 points. Every day this week has marked a new high in the rally since late September, which is now up 1400 points.
In view of this dynamic, a weak start to trading like this Friday should not come as a surprise. A rebound to the round mark of 13,000 points would be common. Even a retest of the 50-day moving average, which is listed at 12,740 points and was a key resistance on the way up last week, would not change the ongoing rally mode.
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