German DAX Index to continue to rise into the zone between 14,500 and 15,000 – Commerzbank

For the German DAX, Commerzbank’s top-down equity strategists continue to expect an overshooting above 15,000 in H1, ending the year at 14,200. This also corresponds with the technical analysis team's view, which sees the DAX working on a lasting jump out of its resistance zone of 13,600-13,800 towards new all-time highs at 14,500-15,000.

Key quotes

“We interpret the powerful global M1 money growth as a key signal that the current equity bull market should continue for several months. Hence, we are convinced that the DAX will rise above the 15,000 mark in H1 2021.”

“The (trading) buy signals in the DAX have improved with the index working on a lasting jump over the resistance zone between 13,600 and 13,800, testing the resistance zone around 14,000. The overall technical situation for the DAX suggests further all-time highs and a rise into the zone between 14,500 and 15,000 points.”