DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 03.07.2017
Week starts on the stock markets in slightly better moods. It has helped oil, which has been growing for eight consecutive sessions. It was the longest growing series since 2012. Investors welcomed the first 24 weeks of a decrease in the number of active oil wells in the US, down from 2 to 756, although it is still the highest reading since August 2015.
Moods have improved the good readings of PMI indices for industry in Germany and throughout the euro area. For Germany it was 59.6 vs forecast 59.3; and for the eurozone 57.4 vs 57.3. Today we are rather calm trading, because the stock market in the United States does not work due to Independence Day. On the other hand, investors are waiting for the June FOMC minutes and the PMI for services tomorrow.
Today Nikkei index ended the day with -0.12%. Yesterday the S&P 500 closed 0.23% positive. DAX tightened up and ended the session with 1.22. The German index set a new record around 12951 points. However, he has not been able to stay on this level for too long. On Thursday and Friday the index fell sharply, stopping just around the support of 12400 points. A descent below this barrier will open the way to 12200 points. The nearest level of resistance is 12600 points. For the time being, the index is above 12400 points.
DAX Intraday
The index broke the pivot point around 12440 points and is currently trying to pierce the resistance of R1 near 12490 points. A successful attempt will open the way to R2 around 12540 points. In turn, the descent below the pivot point will reopen the road to 12400 points.
Key data for the DAX index
No key data
