Frankfurt The leading German index is expanding its consolidation. At the close of trading, the Dax was at 16,111 points, down 0.6 percent. The leading German index had already fallen by one percent on Monday, closing at 16,201 points.
According to Thomas Altmann from the fund house QC Partners, only a few investors have thought of taking profits so far. “As long as the 16 is in front, the atmosphere on the floor should remain good,” he says.
Such setbacks after the record high on Friday last week should not surprise any investors. But this consolidation also shows how difficult it is for the Dax to sustainably break the 16,300 point mark.
Because the two high points from 2021 and 2022 are around 16,300 points. For chart technicians, this mark is a resistance that is difficult to overcome. For Jörg Scherer, Head of Technical Analysis at HSBC Germany, since November 2021, market participants have lost courage to make further purchases in this area four times.
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