Dax remains struck

VBefore the American presidential election this week, the German Dax share index remains in difficult waters at the start of November. In early trading, the leading German index was up 0.06 percent to 11 563.71 points. The M-Dax of the medium-sized stock market shares gained 0.25 percent to 25,785.79 points.

Chart tech experts see the Dax still badly hit after its recent high losses. In the previous week alone, the stock market barometer had lost almost nine percent, burdened by new corona lockdowns in numerous European countries, the imponderables surrounding the American election this Tuesday and high price losses of the index heavyweight SAP.

The experts see important support at 11 450 points. This is where the Dax got caught last week after giving up around 38 percent of its recovery from the low of the Corona crash in March to the interim high in early September.

Economic data from China have a stabilizing effect on the German stock market, where the mood in the boardrooms of Chinese companies in October was better than it has been for almost ten years, as the purchasing managers’ index of the business magazine “Caixin” showed for the manufacturing sector.

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