The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf The German stock market is going down again. At the beginning of the week, the Dax is down 0.6 percent and is trading at 15,063 points. Last Friday, the leading index briefly slipped below the important mark of 15,000 positions, finally closing at 15,156 points, minus 0.7 percent. On the first day of trading, October lived up to its reputation as a volatile stock market month.
For Martin Utschneider, technical analyst at the private bank Donner & Reuschel, the German benchmark index will remain noticeably under pressure in the short term. For today’s trading day, he expects the Dax to move between 15,263 points on the top and 14,980 index points on the bottom. The high fluctuation ranges of the past trading days – on Friday alone the range was 280 points – mean one thing above all: the market is extremely nervous and insecure.
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