The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf The Dax managed to jump over the 15,600 point mark on Tuesday. Follow-up purchases then drove the leading German index above the 15,700 mark. Around noon, the Frankfurt stock exchange barometer was 0.9 percent up at 15,741 points. That could have been the start of a year-end rally.
From a chart technical point of view, the 15,600 point mark is an important resistance on the way to new record highs. Now the Dax seems to have broken through this resistance over the long term. It had already taken a trip above that level on Monday but then fell back and closed the trade 0.4 percent firmer at 15,599 spots.
At the beginning of the week, the Dax had moved within a range of just 90 points, with the trading range completely within that of the previous day – a so-called inside day. The index has now resolved this inside day upwards.
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