DAX 40

Key insight

25,000 round-number floor and 50-day MA at ~24,900 define near-term support; a daily close below both flips bias bearish toward 24,400 (200-day MA).

25,213 holds above the 50-day MA (~24,900) but stalls below the Oct swing high at 25,600 — range-bound into end of week with no fresh catalyst.

Main risk

Oil at $98 — stagflation pressure

98.3 Brent squeezes margins for energy-intensive DAX industrials; ECB rate-cut path narrows if inflation re-accelerates above 2.5%.