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Bearish momentum dominated the opening of the DAX Index this morning, essentially opening the week of trading with a large gap lower and puncturing support levels.
The DAX has gone back and forth during the course of October, as we are still trying to figure out what to do next.
The DAX Index has had a difficult month of trading in October.
Germany witnessed a fast acceleration in new Covid-19 infections, while the global pandemic keeps global trade hostage.
The DAX Index was rocked with a gap lower this morning as concerns are spreading throughout Europe regarding a new wave of coronavirus
New Covid-19 infections across Germany confirm fears over a more severe-than-expected second wave, with current hotspots in Frankfurt, Hamburg, and Munich, where localized restrictions on the hospitality industry are in place.
The DAX Index has enjoyed a bullish trend upwards as global risk appetite has increased sufficiently the past week.
The DAX Index opened with positive momentum this morning taking advantage of recent climbs that have brought the 13000.00 value target back into view for speculators.
The DAX Index has produced two solid days of sideways price action early this week.
The DAX Index will face strong headwinds today as it battles negative sentiment which appears to be growing on global and US equity markets.
The DAX Index continues to essentially follow in the wake of trading results from US equity markets.
The Dax Index has traded with plenty of volatility the past few days which mirrors the results seen on global indices.
While the thirty components of the DAX 30 source more revenues from outside Germany, the global GDP outlook remains depressed.
The DAX Index has opened today’s trading with a resounding surge upwards.
Yesterday saw the DAX Index begin to challenge new highs around the 13040.000 juncture, but then get hit by profit-taking as afternoon trading progressed.
Although the past few trading sessions for the DAX Index have been challenging for short term traders, the mid-term momentum of the equity index remains aggressively bullish.
DAX Index: Patience, A Good Virtue For Equity Index Buyers
Germany’s economy is faced with a steep recession in 2020, estimated between 6.5% and 8.5%, while it battles a resurgence of Covid-19 infections.
Growth forecasts for the German economy have been revised lower, following a series of global GDP adjustments to the downside.
According to the latest ZEW survey for June, investors believe continental Europe’s largest economy is in the early phases of recovery.