FRANKFURT (dpa-AFX) – The German stock market again suffered significant price losses on Friday. The Dax ultimately fell by 1.44 percent to 18 002.02 points. It thus remained just above the 18,000-point mark, below which it had temporarily slipped for the first time in 6 weeks. The weekly loss of 3 percent was the highest since August last year.
The technical chart picture does not bode well for the future price trend. With the price decline before the weekend, the leading index not only confirmed the previous day’s slide below the 21- and 50-day moving averages, which are considered indicators for the short to medium-term trend. It also came dangerously close to the 100-day line, which is important for the longer-term trend and above which it had held its ground since November. At the end of trading, the MDax index of medium-sized German companies was down 1.36% to 25,719.43 points.
“The shock over the result of the…
