DAX Reaching 18,500 by Month-End?
Watching the DAX closely here. We've seen a pretty resilient climb, but that 18,500 mark seems to be acting as a sticky resistance level. Given the current global macro landscape, particularly with $USDX hovering around 25.49 and showing some underlying strength, and the recent run in energy names like $XOP at 175.93, there's a definite crosscurrent of sentiment.
My take is there's about a 40% probability we see 18,500 by month-end. We need a sustained positive catalyst, possibly a clearer dovish signal from the ECB or significantly stronger economic data out of Germany/EU to push through. Without that, I expect continued chop in the 18,200-18,450 range, possibly even a retest of 18,000 if broader risk-off sentiment takes hold. The conviction just isn't there for a decisive break higher without fresh impetus.