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.

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