The DAX remains below the psychologically important mark of 24,000 points. This Monday posed a challenge, as a breakout above this threshold was not achieved. Market participants are closely monitoring the development, as the 24,000-point mark is seen as both resistance and a signal for potential further upward movements.
Current Market Situation
- Consolidation near 24,000 Points: The DAX was recently trading at around 23,918 points and is consolidating near the resistance of approximately 24,393 points.
- Technical Analysis: Above 24,000 points, a positive trend is expected, while short-term pressure below this mark is possible. A breakout above 24,021/036 could clear the way to 24,107 or to the Fibonacci extension at about 24,227.
- Support Levels: Pullbacks are possible below 23,900 points down to about 23,760 before a counter-movement can be expected.
Importance of Upcoming Data
Investors are facing important macroeconomic releases that could potentially provide new impulses for the DAX:
- OECD Outlook: This release is being closely monitored as it can provide insights into the global economic development.
- Inflation Data on Tuesday: These figures are particularly relevant because they can directly influence monetary policy expectations and investor behavior.
These releases could determine whether the DAX exits its consolidation phase or remains under pressure.
Summary
The DAX remains trapped below the critical mark of 24,000 points and is currently in a consolidation phase near this level. For investors, the upcoming macroeconomic data is crucial as it could trigger new movement impulses and thus play a significant role in the future price development.