Market Situation and Record Pursuit
The German stock market is currently experiencing a remarkable upward movement, leading the DAX to a series of records in May 2025. On May 21, the index surpassed the 24,082-point mark and shortly thereafter reached values around 24,150 points. Technical analyses show that the DAX has support areas at 23,475 and 22,500 points, while resistances lie around 24,150 and 25,000 points.
Impact of Political Developments
However, the upward movement is hindered by political uncertainties from the USA, particularly surrounding Donald Trump and US debt. These have led to short-term setbacks, during which the index fell below the 24,000-point mark. These uncertainties lead many investors to act cautiously and avoid larger investments.
Technical Perspective
From a technical perspective, the DAX remains in an uptrend as long as it trades above the SMA20 line at around 24,043 points. Possible next targets are at 24,195/205 and 24,385/405 points. However, a breach of this support line could lead to a change in sentiment and reduce the potential for further gains.
Conclusion
Although the fundamental data is positive and there is still technical room for upward movement, political risks act as a brake on the DAX. Investors should anticipate increased volatility in the short term, expect consolidation in the medium term, and see the potential for new highs in the long term, provided no geopolitical tensions arise.