The DAX in the Tension between Upswing and Setback
In recent days, the DAX has fluctuated around the important mark of 24,000 points. Despite initial losses in June, the index shows a positive trend. On June 3, the DAX rose by 0.3 percent in the early trading phases to just above 24,000 points, but could not maintain this sustainably. Currently, the index is moving along this mark; a breakthrough above 24,393 points could confirm a bullish range.
Current Market Situation
- Short-Term Development: At the beginning of the week, the DAX suffered from concerns about US trade policy; however, it recovered from the impacts of US steel and aluminum tariffs. On Tuesday, the quick estimate of inflation in the euro area was especially in focus, crucial before the next ECB interest rate decision.
- Technical Analysis: There are hurdles at 24,021/036 points; a successful breakthrough could lead to 24,107 points. The achievement of the Fibonacci extension at 24,227 points is also conceivable. However, overbought levels in the hourly chart indicate possible pullbacks.
- Seasonal Expectations: Analysts predict that the DAX may face challenges from summer until October. The buying interest near 24,000 points has recently decreased.
Significance for Investors
The 24,000-point mark holds not only chart technical but also psychological significance. A sustainable breakthrough above this threshold could strengthen investor confidence, while a fall back would bring uncertainty.
Conclusion
The DAX remains in the tension between upward and downward movements, with the 24,000-point mark remaining in focus. The coming days will show whether the index can overcome this crucial hurdle.