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 04.04.2017
Yesterday, we observed a slight improvement in sentiment on the markets. Retail sales in the euro zone (0.7% vs. 0.5%) were better than consensus and markets were already consuming Monday’s terrorist attack in Russia. Today, investors are waiting for the “minutes” of the Fed, which may give a bit more light to the question about the amount of interest rate increases in the US this year. The DAX index yesterday rose slightly by 0.21%, the S&P 500 by 0.06%, and this morning Nikkei closed on +0.27%.
DAX index remained above 12,200 points, suggesting another attempt to force historical resistance around 12,400 points. Only breaking this level will make it move strongly up.
DAX Intraday
DAX index from the morning consolidates just above the pivot point at around 12,280 pts. Defending this support and move over today’s maxima around 12,300 pts. will open the way to R1 near 12,330 points. In turn descending below the pivot point can reduce the price towards S1 12,250 points.
Key data for the DAX index
09:55 – PMI Index for services, fin. in Germany
10:00 – PMI Index for services, fin. In the euro zone
20:00 – Minutes of the FOMC meeting
