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New month, new year, new highs for German stocks?
Investors in the DAX Index are enjoying the holiday season, as trading the last two days has produced gaps higher when the market has opened.
The DAX Index initially drifted lower during the trading session on Thursday but found enough buying pressure to turn things around and reach towards the 13,584 level by the time we closed.
The DAX Index appears ready to go into the Christmas holiday with cheer and renewed optimism.
The DAX Index gapped higher to kick off the trading session on Tuesday, fell a bit, and then closed relatively unchanged.
The DAX Index broke down a bit during the trading session on Monday as European traders completely lost it over the coronavirus mutation in the United Kingdom.
The DAX Index has been propelled lower with a strong gap in early trading today on rising concerns regarding news of a mutated coronavirus strain in the UK.
The German index has rallied again for the third day in a row on Thursday, as it looks like we are ready to go higher.
Technical traders will have to look at long-term charts to contemplate the next possible upward scenarios the DAX Index could demonstrate.
Although the DAX Index was not able to penetrate resistance last week and challenge new highs, the index remains seemingly comfortable within its current value range.
Germany continues to report over 20,000 new COVID-19 infections daily, but the ZEW economic sentiment indicator for December surged amid misplaced hopes that a vaccine will lead to a swift recovery.
In early trading this morning, the DAX Index has produced another solid leg upwards and its positive momentum is evident for all speculators to see.
While Germany posted better-than-expected industrial production for October, it was before Chancellor Angela Merkel imposed a second nationwide lockdown.
The DAX Index has been within a pitched battle to attain higher values the past week and has failed to attain new highs.
Germany is on course to overtake Mexico as the eleventh most infected Covid-19 country as soon as today’s update and likely to enter the Top Ten list before the end of the year.
The DAX Index has opened trading this morning with weaker sentiment and is challenging support levels which appear vulnerable.
Trading in the DAX Index opened again this morning with a flourish of fast trading, as a low was tested and then the ability to demonstrate a spike upwards quickly was displayed.
The DAX Index managed to produce an early gap lower this morning without wrecking the high water marks it accomplished late last week.
The 13300.00 level may be giving speculators within the DAX Index a case of indigestion; several attempts have been made to sustain momentum above this mark in July, September and recently with limited success.
Germany crossed 1,000,000 confirmed Covid-19 infections, and the rate of new daily cases places it on course to enter the Top 10 list next month.