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 02/07/2018
The first session of the month was successful for share holders, the DAX index increased by 0.73% despite the low opening. Monday’s industrial PMI data did not come as a surprise, the reading amounted to 55.9 points. In Germany, there are ongoing scuffles on the political scene, the leaders of the three ruling parties argue about imigration policy.
Meanwhile, the European Commission warned the US that imposing tariffs on cars and parts would hurt not only the EU but also the US economy and would result in the imposition of retaliatory charges.
Among the components of the DAX index, the best result was recorded by RWE, which gained 1.33%, while E.ON AG increased by 1.08%. The worst result was Infineon Technologies falling 2.38% and Adidas was down 1.82%.
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DAX Intraday
Quotations of the index for most of Monday remained under the directional point, today the situation has reversed and we are starting above (12,330), which gives at least at begining a greater chance of continuing the upward move. The first local resistance is at ~ 12350 points, while the support S1 is at 12,170 points.
The area of the players’ greatest interest in terms of volume extends from 12,240 to 12,210 points, there is worth looking for opportunities to take long positions.
We have important data ahead of us at 11:00 from the Eurozone on retail sales and PPI.
