The pandemic is still on the decline in Europe. Nobody seems to be interested in the fact that the number of infections in the USA has passed the 3 million mark. Good economic data encourages market participants that the economy will recover faster than expected.
As long as the feared second wave of infections does not occur, the positive trend on the financial markets is likely to continue. Especially since the DAX recently pushed down two major resistances.
Today, the domestic stock market barometer could first take a break. Pre-market we see the DAX at 12,700 points, around 0.4% below the closing price on Monday.
Dates that are important for investors
D: Production in manufacturing May (8:00 a.m.)
DAX: Next resistance defeated
The leading German index took the next step towards normality yesterday. The once striking intermediate high of 12,662 points on July 4, 2019 was overcome. In view of the increasing trend dynamics, measured by the momentum of the past five days, the next goal could now be targeted. This is the horizontal resistance line at around 12,900 counters. The last recovered chart marks at 12,662 / 12,434 points serve as support for the DAX.