DAX 40

Key insight

25,500 round-number support holding, but a 1.3% Nasdaq drop and oil at $99 squeeze margins for export-heavy DAX constituents — break below 25,200 50-day MA opens a move to 24,800.

25,505 holds above the 200-day MA (~24,800) but stalls 1.9% below the 2026 all-time high at 26,000 — momentum fading as Nasdaq drops 1.3% and oil surges to $99.4.

Main risk

Brent crude spike above $99

Oil +2.3% to $99.4 compresses margins at BASF, Lufthansa, and auto names; 100 USD/bbl breach would accelerate selling.