The leading German index is in a downward trend this year.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf The Dax has been in a downward trend for exactly months. The leading index failed twice in an attempt to end this falling line since the high for the year on January 5 with 16,285 points. These were just bear market rallies. But now the chances are good that the third time this trend will soon be over.
Because the Dax rose in the first hour of trading by 2.3 percent to 14,294 points, a good 320 points above yesterday’s closing level. The upward movement impulse expected on Wednesday has thus taken place.
According to the technical analysis, the downtrend would have ended if the prices were sustained above the current level of this falling trend line, which is currently 14,216 points. Sustained means a higher daily closing price and the following trading day. Just below is the 50-day line, which reflects the medium-term trend and is at 14,116 points.
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