Dax current: Dax closes in the red – and narrowly misses the 25,000 point mark

Dusseldorf. A new rise in oil prices and ongoing nervousness in the technology sector continue to weigh on the German stock market. The DAX lost 0.8 percent on Friday and ended trading at 25,182 points.

At times the leading index fell to as many as 25,014 points and thus approached the 25,000 point mark. The last time it fell below this was at the beginning of October. Yesterday, Thursday, the DAX closed 1.1 percent lower at 25,371 points. On a weekly basis, the Dax fell by 1.7 percent.

The chart experts at HSBC see the Dax, which has fluctuated in the range of 25,000 to 25,700 points so far in October, caught between the particularly important 50- and 200-day indicator lines. They speak of a “degree of indecision”, but see the chance of a “breeding ground” for a new trend movement, provided the 200-day line is sustainably defended. It is currently at around 24,879 points. The 50-day line represents a short-term trend, the 200-day line represents a long-term trend. Accordingly, it is interesting to see whether the leading index moves above or below these lines.