DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually daily there is a very large volatility that gives many trading opportunities.
Summary of the session 31/07/2018
The last session of the month was marked by a small increase of 0.06% and with moderate investor activity. The holiday season is in full swing, but the German DAX gained in July a solid 4.65% and after two months of decline it regains its vigour. Data from the economy were mixed, although retail sales grew 1.2% after the June collapse, but the change in the labour market was noticeably worse.
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Among the components of the DAX index, the best result was recorded by Deutsche Lufthansa, which gained 8.73%, while Deutsche Bank increased by 2.30%. The worst result was Fresenius, reaching 4.29% and Henkel was below 0.92%. The total number of growing companies exceeded the number of losers listed on the Frankfurt Stock Exchange by 398 to 306.
The next month starts calmly, with a slight increase, above the directional point – 12,795. Strong support zone is today at local point S1 and weekly pivot, so the region 12,735/25, yesterday there were willing to buy discounted shares. In the short term, the DAX moves in an ascending channel whose upper limit coincides with the local resistance R1 – 12,860 points, breaking down will mean a re-test of the support zone.