DAX 40

Key insight

25,561 consolidates just below the 2026 ATH zone near 26,000 — a weekly close above 25,800 opens a measured run to 26,500; failure there flips focus back to 25,000 round-number support.

25,561 holds above the 200-day MA near 23,800 and the 2025 breakout base at 24,000 — trend remains intact with S&P 500 at record highs providing a strong Wall Street tailwind.

Main risk

Brent Crude spike above $100

Oil at $97.3 — a break above $100 lifts eurozone energy inflation, pressuring ECB to stay restrictive and squeezing DAX industrials at 25,000.