The DAX has stabilized. At the close of trading, the leading German index gained 0.38 percent to 17,837.40 points. The MDax of medium-sized stock market stocks rose by 1.01 percent to 26,189.44 points. The indices followed the trend on the New York stock exchanges in the afternoon. There, the Dow Jones and the technology-heavy Nasdaq 100 rose moderately at the European stock market close.
The trend for the Dax has been downwards since Easter. In the downward phase, the area around 17,700 points has so far proven to be support, including today. However, there is resistance at the 50-day line, which chart-technical investors keep an eye on as a signal for the medium-term trend.
Market participants also doubt whether this is already the beginning of a positive turnaround given the lack of geopolitical progress, an unconvincing reporting season so far and the disillusionment with interest rates. For capital market strategist Jürgen Molnar, the correction is far from over. “In the best case scenario, we are right in the middle,” he sums up. “Stabilization yes, recovery no.”
