2023-05-29 11:02:03
DThe overall (slightly) improved situation in terms of inflation data, the discussion about a possible pause – or even an end – in the current cycle of interest rate hikes by the major central banks, the easing on the oil and gas markets and the slightly better than expected reporting season (for the first Quarter 2023) of the companies have ensured a continuation of the medium-term upward trend in many European blue chip indices. The discussion about the US debt limit as a current uncertainty factor on the stock markets has not (so far) been processed at a reduced price level
The Dax has also run within its intact bullish trend up to the resistance zone around the old all-time highs around 16,300 (from 2021). The Dax market breadth currently shows an appealing overall picture. The situation is positive – from a technical point of view – that three index heavyweights from the top 5 of the index – SAP, Siemens and Airbus – present themselves as the technical drivers of the price upswing. Higher medium-term technical price targets are indicated for these stocks.
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