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 06/03/2018
Tuesday’s session on the DAX index ended with a symbolic increase of 0.19%, so after Monday’s growth there was no continuation. The bulls managed to reach 12,560, that is, the abolition of 61.8% of the February-March declining wave at the beginning of the day, then we watched a slow drop.
Among the components of the DAX index, the best result was recorded by RWE, which gained 2.54%, and Volkswagen increased by 2.25%. The worst performers were Pro Sieben, down 6.24%, and Deutsche Boerse lost 1.06%.
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Wednesday’s session starts with a bearish gap, which is a consequence of the falls on Wall Street, and thus the opening falls well below the directional point. Usually the deviation down to S2 in the beginning of the session is characterized by an attempt to recover, so happened today when the market reached S1 from the bottom.
Interestingly, such a quick descent into the area of 12,000 points may turn out to be a trap for bears as during a memorable Monday session it was this region that showed great interest of the players and will be a kind of axis point.