DAX 40
BullishArchived analysis from Aug 5, 2026, 5:20 AM
Key insight
The DAX is in uncharted territory above 26,000 with technical analysts at the Association of Technical Analysts of Germany flagging upside targets of 27,200 and 28,800 — the recovery from the April 21,900 low is intact and momentum is accelerating.
The DAX has broken decisively above the prior July resistance at 25,875 to set fresh all-time highs above 26,000, underpinned by easing US–Iran tensions, falling oil prices, and a string of earnings beats from Siemens Healthineers and SAP.
Main risk
US–EU Tariff Escalation Re-emergence
A fresh Trump tariff threat against EU goods — as seen in May 2026 with auto tariffs — could rapidly reverse sentiment and drag the DAX back toward the 50-day MA near 25,300, mirroring the April shock that erased 4,000+ points in weeks.
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