Over 40 years’ heritage
185,800 clients worldwide
Over 15,000 markets

DAX in a correction mode again

The German stock market has some problems with the resistance at 10,015/10,048 points. 

bg_germany_flag_1216161
Source: Bloomberg

Above this price level the DAX would generate a new buy signal. A significant jump is needed to continue the upward trend.

Since the end of June the momentum has been decreasing. But an increasing momentum would be very important to break up the mentioned resistance. Furthermore from the seasonal point of view the month of July is  one of the weaker months of the year.

Currently the DAX is in a correction mode again. The target is the trend line at 9792/9795 points. Next supports are the increasing 200-days-moving average (weighted) and the trend line at 9631/9647 points. 

DEM_DAXdailychart08072014
German stock market DAX on daily basis / IG Charts

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.

Find articles by analysts