DAX 40

Key insight

The DAX is in uncharted territory above the breakout level of 25,923 — profit-taking after four record sessions is healthy, and the next technical target cited by German chart analysts is 27,200; the bull thesis holds above the breakout zone near 25,923.

The DAX has broken to successive all-time highs above the prior resistance at 25,923, with price now consolidating at 26,224 after a four-session winning streak driven by AI/tech earnings beats and easing geopolitical risk from US-Iran Strait of Hormuz talks.

Main risk

Profit-taking & Lufthansa earnings shock

Deutsche Lufthansa plunged 10.6% on earnings day and Zalando hit a 5-week low, signalling that earnings misses can rapidly unwind index momentum from record highs near 26,267.