DAX: Level at 10,000 in the focus again

Regarding the local lows at 9.302/9.320 the DAX has been showing a strong performance in the recent days.

Source: Bloomberg

Due to this the psychological level at 10,000 is now in the focus of the investors.

For a continuation of the current recovery the German stock market should close significantly above the mentioned price level. But this does not mean the end of the bottom-building phase. The lower trend line of the downward trend channel at 10,150 would be the next resistance.

In the case of a return in the trend channel the psychological level at 11,000 would be the technical target price.

The lower trend channel line at 10,150 is a heavy resistance. Therefore a correction is possible. The DAX could test the midterm upward trend line at 9.870. This trend line was recovered the day before yesterday.

German stock market DAX on daily basis

Source: IG charts

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