DAX could hit all-time highs

As expected, the German stock market recently hit all-time highs at 9792/9795, before tumbling back down.

The mentioned highs were reached on Tuesday, 13 May, with 9786 on intra-day-basis, and two days later the DAX lay for a very short time above 9800.

But from there the German stock market moved down until the support at 9631/9647 stopped the downward movement. Investors are now still waiting for the next attack on the resistance at 9792/9795. Above this level the German stock market might reach the psychological level at 10,000.

The German Stock market has got three important supports on a daily basis; these are the trend lines at 9631/9647 and 9425 and the increasing moving average (weighted 200 days) at 9440.

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.