Dusseldorf Groundbreaking trading days are imminent on the German stock market. They should probably provide an answer to the question: will the ongoing bear market rally turn into a sustainable trend reversal or not? For Martin Utschneider, technical analyst at private bank Donner & Reuschel, “the start of the week today and today’s closing price are of great importance in view of the overall situation”. Today’s trading range is likely to be between 13,542 points on the upside and 13,273 points on the downside.
At the start of the trading week, the Dax first has to process last Friday’s gains. The leading index is down 0.2 percent in the first hour of trading and is trading at 13,493 points. This is no surprise for capital market expert Thomas Altmann.
“It is very likely that many will not take up new positions in the run-up to the US midterm elections. Therefore, the motto of the hour for many at the beginning of the week should be waiting,” he explains.
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