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 04/04/2018
Yesterday’s session on the German DAX ended with a 0.37% drop, but the futures contract was on black, the bulls owe this growth made after regular trading. At the start of the Thursday session this move is continued, so traders picked up the direction.
Among the components of the DAX index, the best result was recorded by Beiersdorf, which gained 1.37%, while Adidas increased by 1.28%. The worst result was Infineon Technologies, falling 3.01%, and Deutsche Lufthansa dropped 1.87%.
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DAX Intraday
The high opening today caused that declines from this week has been made up, the index closed the gap from Tuesday. In addition, the rise above 12 167 or the maximum of the last week confirms the positive structure of highs and lows.
The index after 9:00 arrives on local resistance R1 12 175 points, from where I expect a supply reaction, at least to the levels from yesterday’s close. Way-point a bit further, below 12,000 points and this is related to the low from Wednesday’s session. Possible overcoming of the first resistance should lead to R2 or 12,270, but here the risk to reward (R/R) is worse.
Interestingly, with this strong today’s impulse, the market broke above the monthly main Pivot (MP – 12 100 points).
