DAX 40

Key insight

25,213 sits in a 600-point compression zone between 200-day MA support (23,800) and ATH resistance (25,800); a close outside either boundary sets the next 1,000-point leg.

25,213 holds above the 200-day MA near 23,800 but stalls under the 2026 ATH at 25,800 — sideways chop with no breakout catalyst visible.

Main risk

Brent Crude at $98 — energy cost shock

98.3 Brent squeezes German industrial margins; a break above $100 raises input-cost pressure for DAX heavyweights BASF and Volkswagen.