Analysis of the German DAX in the near term

DAX at the basic level

The DAX index rebounded on Wednesday, surpassing the level of 24,000, supported by the healthcare sector as a result of investors optimism about tariffs.

Shares of Merck rose by 5.6%, Siemens by 1.7%, Bayer by 1.2%.

This followed an agreement between Pfizer and the Trump administration enabling patients to obtain prescription drugs at reduced prices through a new federal platform.

However, overall market sentiment remained fragile amid continuing concerns about the US government shutdown.

Traders in Europe are waiting for inflation data for September, which is expected to show a rise that may strengthen the ECB's cautious approach to cutting interest rates, while EU leaders are meeting in Copenhagen to discuss strengthening regional security.

DAX at the technical level

The indicator is trying to complete the bat harmonic pattern on the four-hour frame, especially after breaking through the 23850 levels.

Which may push the indicator to reach the levels of 24400, at which time the model is completed, and from there we can start building short positions on the indicator to target the levels of 24000 again and then the support levels of 23800.

Halting the breakthrough of the historical peak of 24650 upwards.