German DAX Forecast

The DAX on a fundamental level

Germany's DAX index rose slightly above 24,400 points on Monday, amid low trading volumes at the start of a short week due to the Christmas holiday.

Meanwhile, geopolitical concerns gave way to renewed optimism over AI stocks and hopes for further monetary easing by the Federal Reserve next year.

Technology stocks led the rally, with Infineon Technologies up 2.3%, Adidas up 1.7%, Siemens up 1.5%, and SAP up 0.3%.

The DAX on a technical level

German DAX prices rose near 24400 levels today, as prices are trading at the levels of the daily downtrend and also strong supply areas.

The outlook indicates that the index may start to decline to target the harmonic pattern shown at 23500 and then 23100.

Nearby targets at 24100 levels. This scenario fails in the event of a breakout of 24800 levels in the long term, and a close stop with a breakout of 24550 levels to the upside.