DAX 40
NeutralArchived analysis from Nov 3, 2026, 9:21 PM
Key insight
25,818 sits in no-man's land: 200-day MA at 24,900 is firm support, but 26,400 record high caps upside. Break either level determines the next 600-point swing.
25,818 holds above the 200-day MA near 24,900 but trails the 2026 record high at 26,400 — oil at $96 squeezes margins while S&P 500 extends, leaving DAX range-bound.
Main risk
Oil at $96 — cost-push inflation risk
Brent at $96 compresses DAX industrials' margins and keeps ECB cautious, capping the rally below 26,400.
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