The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf The German stock market is recovering somewhat from the price losses of the past two trading days. The Dax rose by 0.3 percent to 13,132 points in the first hour of trading.
The leading German index has thus been able to defend the 13,000-point mark during its five-day breather after the 1,000-point rally from early to mid-July. Little is likely to change this Wednesday either.
Martin Utschneider, technical analyst at private bank Donner & Reuschel, expects the stock market barometer to be in a range between 13,025 points on the lower and 13,206 points on the upper side for today’s trading day.
In his opinion, the buying panic of July 19, when the Dax jumped up almost 350 points, has given way to sadness. “Therefore, the short-term stops on the downside should still not be neglected,” says Utschneider.
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