The leading German index is in a downward trend this year.
(Foto: Bloomberg Creative/Getty Images [M])
Düsseldorf After two trading days with significant price losses in the meantime, the situation calmed down a bit on Thursday. The Dax starts the session with 14,021 points, an increase of 1.7 percent on the previous day or the equivalent of around 230 points. Yesterday, Wednesday, the leading index ended trading with a plus of 0.3 percent and a final level of 13,794 points, but slipped to 13,566 points at the start.
This intraday low from yesterday’s trading day could be an important landmark when trying to bottom out. Or to put it the other way around: Courses below 13,500 points should allow the Dax to slide further towards 13,000 points. Overall, the technical chart situation remains challenging.
According to broker CMC Markets’ Konstantin Oldenburger, the “bulls haven’t capitulated yet.” Against the background of mounting risks, however, it is more difficult for them “to brace themselves against the almost tsunami-like selling waves”.
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