Dax current: Third consecutive record day - Dax starts with gains
The positive effects are strengthening on the German stock market. However, the recent optimism could get a damper, at least temporarily.
The optimism on the German stock market continues: the Dax is now recording new records for the third day in a row. At the start of trading on Wednesday, the leading index surpasses the previous day's records and sets a new record at 26,404 points. In the morning, the leading index gives up a few points but remains in positive territory.
Yesterday, on Tuesday, the leading index closed 0.8 percent higher at 26,202 points. However, Martin Utschneider, market expert at Robomarkets, says that given the high price level, initial short-term profit-taking is not to be excluded.
The Dax is moving into an overbought area, Utschneider warns. Nevertheless, the analyst expects the record hunt on the German stock market to continue for the time being. From a technical perspective, the Dax could move in a trading range between 26,200 and 26,500 points today, writes Andreas Lipkow of CMC Markets in his market commentary.
Positive reactions are conditional. "The stock exchanges are currently pricing in a positive causal chain," explains Thomas Altmann, market expert at QC Markets. The focus is on the hoped-for opening of the Strait of Hormuz. If it happens, oil and gas prices would continue to fall - with far-reaching consequences: Lower energy costs dampen inflation expectations, which in turn creates immediate downward pressure on the long end of interest rates.
Translated by urgent.news. Machine-written — may contain errors; check the original before relying on it.
