The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf After a pleasing start to trading, the German stock market is about to test the lows of the past few weeks. After a daily high of 12,870 points, the Dax slipped to 12,650 points on Tuesday morning, a drop of 0.9 percent.
Last Thursday, the leading index had marked a new three-month low at 12,618 points. Should the Dax fall below this low, all the stabilization tendencies of the past few days would be gone. After that, the previous low for the year from March at 12,439 points would take center stage.
The situation on the market thus remains fragile. From a technical point of view, there are first signs of relaxation only at prices above 13,000 points. This area has been the focus of bulls and bears for the past month.
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