Frankfurt A longer sideways phase is looming on the German stock market before a major directional decision is made. Because as long as the Dax cannot overcome the 16,144 point mark on the upper side, a new record high of 16,332 points remains out of reach. And on the downside, the 15,700-15,600 support area has been holding since early April.
Today’s trading day doesn’t change that either. The Dax started at 15,970 points and was thus unchanged compared to the close of trading on Monday.
For the capital market expert Thomas Altmann from the fund house QC Partners, “the fear of being positioned on the wrong side in the next big movement has recently increased significantly”. And as long as it is unclear which direction the Dax will take, many investors will hold back with commitments.
Morgan Stanley expects a correction in the summer
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