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- German DAX to trade lower at 14,200 by end-2021 due to four key bear trends – Commerzbank
German DAX to trade lower at 14,200 by end-2021 due to four key bear trends – Commerzbank
FXStreet reports that the technical analysis team currently expects a consolidation for the DAX, while the year-end is seen at 15,500-16,000.
“The attractive DAX dividend yield of 2.9%, the 9% rise of DAX 2021 earnings expectations and the powerful 13% eurozone M1 money growth are key bull trends why the DAX might rise to 16,000 until the Q2 DAX earnings season in August 2021, after a short-term DAX consolidation in May and June. We expect the DAX to trade lower at 14,200 index points at the end of 2021.”
“Due to the overbought technical situation a consolidation is now under way. The technical target for end of 2021 remains unchanged at 15,500 to 16,000 points.”
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