Summary of the session 30/04/2018
The last session of April ended with an increase of 0.25% and during the whole month, the German DAX gained 5%. Retail sales in Germany slightly disappointed on Monday, reading – 0.6% did not coincide with analysts’ forecasts (0.8%), this is the fourth consecutive month below the line.
Among the components of the DAX index, the best result was recorded by E.ON which gained 2.04% and Fresenius increased by 1.54%. The worst performers were ThyssenKrupp, which fell 2.26% and Infineon Technologies was down 1.25%.
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DAX Intraday
From the first minutes of the session, investors buy shares, despite of lack of yesterday’s session (on Wall Street trade was conducted) the appetites are large and the DAX index goes up to two-day highs. The local level R1 has been reached and the price goes up to R2- 12 660 where additionally is the maximum of the entire upward movement from the beginning of April. Narrow spacing of the Pivot line means a potentially large directional movement.
Therefore, as I mentioned in the previous commentary, the average DMA 200 from the daily interval is under fire. A clear closure of the day above 12,650 in the medium term will greatly improve the situation of buyers (potential range up to 12 900 points).
