Frankfurt The German stock market is again looking for direction. Nine trading days ago, the Dax surpassed the round mark of 16,000 points, and now the focus is on this area again. The leading index was listed at 16,084 points in the first hour of trading, a drop of 0.2 percent.
After the big expiry date last Friday, the course of the week so far at the Dax has been characterized by a small, so far healthy breather. However, the short-term trip to a new record high of 16,427 points with a subsequent setback also shows how difficult it is to overcome the area around the former high for the year.
The mark of around 16,300 meters has already been unsuccessfully tested four times since the end of 2021. In all cases, the price was below this mark again the following day, so it was not sustainable.
Accordingly, for Jörg Scherer, head of technical analysis at HSBC Germany, this area is the “ultimate cover” which, if successful, has high upside potential.
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