DAX Struggles with the 24,000 Mark Despite Positive Impulses
The German stock index DAX is struggling to sustainably breach the psychologically important mark of 24,000 points, despite positive background conditions. Strong quarterly numbers from NVIDIA and progress in the trade conflict between the USA and the EU could not support the prices in the long term. In afternoon trading, a negative trend is still evident.
Background: Positive Environment Due to NVIDIA and Trade Conflict
The latest quarterly numbers from NVIDIA have impressed and could potentially boost the entire technology sector. However, the influence on the DAX remains limited. The temporary easing in the trade dispute between the USA and the EU had initially brought relief to the markets.
Market Analysis: Technical Barriers and Supports
Technically, the 24,000 point mark represents a critical hurdle for the DAX. A breakthrough could lead to further increases towards the next resistances at 24,107 and 24,227 points. Currently, however, the hourly chart shows overbought signals indicating a correction. On the downside, the areas around 23,900 and 23,848 points provide support.
Outlook: Where is the DAX Headed?
The DAX is facing a directional decision. A recovery above the 24,000 point mark is possible, but a correction towards 23,760 points cannot be ruled out either. The further developments in the trade conflict and reactions to corporate numbers will be crucial.