In the last few weeks, the Dax has increased by a good 10%. As soon as prices rise, the next rally is announced in the media. But as is well known, one swallow does not make a summer. Because the stock market bulls are now facing a first hurdle. Only when this is overcome can one be more optimistic once more in the long term.
Stock market up-to-date – you have to take this hurdle
If we look at the market development over the last few months, we see a broad sideways movement in the Dax. The upper limit is around the 15,000 point mark. On the lower side, the safety rope is between 12,200 and 12,400 points. The Dax moves back and forth between these brands like a pinball.
The Dax has arrived in no man’s land
After the purchase level at the support in the Dax has been processed in an exemplary manner, the first price target has been reached. Unfortunately, we expect to make the big hit far too often on the stock exchange. Unfortunately, it often happens that the accumulated profits melt away faster than a scoop of cinnamon ice cream at almost 40 degrees in the shade. Let’s be realistic and leave the church in the village. After all, we also want to keep our price gains. We should therefore choose our price targets in such a way that they are likely to be achieved.
Stock market up-to-date – the price of oil is running like clockwork
An exciting and possibly lucrative constellation has developed in the oil price in recent weeks. Between USD 90 and 95, the NYMEX Light Crude Futures (CL) has repeatedly shown clear reactions in the past. The oil price has been hovering around this mark since the beginning of July. However, no dynamic upward movements were triggered from there. So the prospective buyers stayed away. Where the buyers are weak, the sellers are not far away.
Oil prices have fallen below the prominent support. Now there is a good chance that a downtrend is forming. The technical price target is currently hardly imaginable. It’s in the $65 range. That would mean a drop of 25%. That’s never possible you say to yourself? Like me, you probably never thought that the price of oil would go below zero.
Anything is always possible on the stock exchange! I wish you a relaxed weekend and a good hand on the stock market in the coming week. Your Mario Steinrücken.
Mario Steinrücken is a stockbroker through and through. He usually holds his positions for several days to a few weeks. In the “Stoneback Academy” he helps his customers to achieve more returns on the stock exchange. He started his professional trading career in 2004 in stock trading at the Stuttgart Stock Exchange. He holds the Xetra and Eurex license and also worked as a futures trader at the securities trading company “Gass Capital Markets” in Frankfurt. He tries to show his enthusiasm for the stock market to his followers with tips and tricks on his own YouTube Kanal to bring closer.
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