DAX INDEX RECESSED SLIGHTLY FROM RECORD RISE!
The closing of the session yesterday was realized at 15.176 level with a decrease of 0.24 percent with the slight sales wave in the global indices in the DAX index, which emerged with a record rising movement next week. It is noteworthy that while the Covid-19 buffering is slightly loosened around the world, a cautious stance is still maintained in Germany compared to other countries. In Germany, the CDU President called for tighter closure and quarantine measures that will last for 2-3 weeks, while the German Finance Minister took part in the warnings of the German Finance Minister to go together in order not to get caught in the third wave. The IMF, on the other hand, increased its 2021 yearly forecast for the German economy from 3.5 percent to 3.6 percent. Service PMI in Germany was 51.5, over the previous month. After this, it can be said that the word of this acceleration preserves a band, although there is a slight retraction potential in the DAX index, which preserves the values.
While technology and industry stocks are in the depreciation in the index, purchases in the retail, insurance and financial services sectors raised the index. While the best performing companies in the index were Beiersdorf with 2.52% premium, Volkswagen showed the worst performance with a loss of 2.23%. Covestro and Adidas were the other companies that stood out with their loss in value, while Deutsche Bank was valued by 1.45%.
In the light of all these developments, it can be expected that the DAX index will remain limited in its decreases during the period when it maintains its appearance above the level of 15,100. In the continuation of the record rising movement, we are gradually following the 15,500 and 16,000 resistance thresholds. In a possible downward revision, 14,750 and 14,400 supports under the 15,100 support threshold stand out as important breakthrough points.