DAX set to open slightly lower this morning- can it rebound to set fresh records later on?

Today starts the first day of trading for the last month of the year and could it be a record breaking day for the German DAX? The index forged higher on Friday afternoon and got to within spitting distance of the current 2024 and all time high, at 19,674 (on October 17). In the event it topped out at 19,640. Nevertheless, the index still posted a record daily, weekly and monthly close on Friday, at 19,626. If the current record at 19,674 does get surpassed when live trading resumes, the next technical level is a big one and it is at 19,862. This is a mega-wave 5 Fibonacci derived extension, from the low of wave 4, set at 8,255 in 2020. Of course there is no guarantee we will see the index reach 19,862 and no guarantee that it will cap the topside, if it is put to the test. However, in terms of next topside levels to note this morning, it could be important. We shall see. The DAX is right now priced to reopen lower. There is little doubt here; the index future has been dragged lower by the slide in the CAC 40 futures. Perhaps were it not for that, the opening outlook would be more positive today. We shall have to see, just how much more that impacts the index when live trading resumes shortly. The DAX is currently priced to reopen around 19,600