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 02/01/2018

The first session in the new year, in which most players returned to the stock market ended with a decrease of 0.36%, which was the fifth day of falls in a row. The last such unsuccessful streak took place in mid-November, after which a four-day rebound came.

Among the components of the DAX index, the best result was recorded by RWE, which gained 1.76% and Commerzbank AG by 1.19%. The worst performers were Beiersdorf AG, falling 1.74% and Deutsche Lufthansa AG minus 1.43%.

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DAX Intraday

A strong downward move at the beginning of yesterday’s session brought the index to low prices, while the Americans improved the highs. The level of support S1 – 12,780 stopped the decreases, followed by a secondary low, from which the index made a bullish movement.

DAX Longterm

Today, the upward movement is continuing what means that yesterdays correction at the fixing did not harm the bulls. Opening above the DP point suggests upward movement and descent to the area of 12,850 should be used to open long positions with the goal at 12,970. Confirmation of the positive mood of the first session of the year is the daily candle with a long lower shadow.

 

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