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 variability that gives many trading opportunities.
Summary of the session 06/02/2018
Also the last session on the German DAX index was not successful for the stock holders, the drop was 2.32%, the whole took place at the beginning of the session, then the loss was made up. In the case of a forward contract, the low opening met with a demand response and at the end of the day the increase was over 3%, which is related to the low base.
Among the components of the DAX index, no company was on the plus, Munchener Ruck dropped the lowest by as much as 5.33% and Commerzbank loss by 4.50%, the third Allianz was down 3.80%.
DAX Intraday
Yesterday nearly around 12,100 finally demand occurred, the price did not fall below the opening. For the most part of the session, the fluctuations oscillated around the level of pivot, which acted in result as support. The bullish move after the closing of European markets led to the R1 test and the lower limit of the formation of the megaphone, this time from the opposite side, I wrote about it here.
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Today, we observe a downward movement and after 9:00 the market is coping with daily pivot (DP) at 12,440, yesterday in this region we observed increased interest from the part of market participants, its breaking may open the way to 12,240 and the test 12,100.
