Dax is testing its lower limits – bears among the professionals have surrendered

Dusseldorf The German stock market should test its lower limits on Thursday. In the first hour of trading, the Dax is down 0.5 percent and is listed at 15,453 points. The leading index ended yesterday Wednesday almost unchanged at 15,222 points.

For Martin Utschneider, technical analyst at the private bank Donner & Reuschel, the American Philadelphia Fed index, which is considered to be the leading indicator for the important purchasing manager index, is likely to cause a bitter disappointment. “Coupled with the current market technology of the Dax 40, a slightly impulsive mixture,” says Utschneider. He locates the lower limit of the Frankfurt benchmark at 15,233 meters.

With this in mind, investors shouldn’t expect much from today’s trading day. The chances are rather bad that the Dax will sustainably rise above 15,527 points. This is the upper limit at which the leading index has always failed for a short time in the past few days and accordingly forms the first hurdles for further price increases.