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DAX is stabilizing despite market uncertainty
Stocks Frankfurt end: Dax stabilizes - chart technology in focus, expert warns of further correction. New geopolitical developments could influence trends.
DAX is stabilizing despite market uncertainty
The DAX closed on Thursday with a gain of 0.38 percent at 17,837.40 points, thus continuing its stabilization. The MDax, which includes medium-sized stock market stocks, rose by 1.01 percent to 26,189.44 points. The positive conclusion followed the trend on the New York stock exchange, where both the Dow Jones Industrial and the Nasdaq 100 rose moderately.
However, the Dax has shown a downward trend since Easter. The support so far was around 17,700 points, while a resistance line was visible on the 50-day line, which chart-technical investors view as an important indicator of the medium-term trend.
The lack of geopolitical progress, disappointing company reports and a cautious interest rate policy make market participants doubt whether this is already the beginning of a positive turnaround. Capital markets strategist Jürgen Molnar believes that the correction is not yet complete and notes that we may only be in the middle. Stabilization is in place, but a recovery is not yet in sight.