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 07/02/2018
During the Wednesday session, the increases on the German DAX index prevailed. Among the losing were only Deutsche Bank (-0.44%) and Lufthansa (-0.25%). On the other hand, the green side of the market is very strong, dynamic increases – Adidas (+ 5.27%), ProSieben (+ 4.73%), Deutsche Boerse (+ 4.13%) and VW Group (+ 3.70%) became the leader of the session. ).
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As a result, the total value of the benchmark of the largest companies listed on the German stock exchange grew + 1.60% on a daily basis (increase by almost 200 points to 12590.43).
Analyzing the quotations on the daily chart, it is clearly visible that level of support is at the level of August highs (12667,3 points). After a dynamic depreciation, the zone provided a rebound and a return of over 61.8% Fibo (today, however, the price fights with the level). If zone 12530 is maintained as support, then there will be a chance to return under 12850, i.e. bullish base tested from mid-November: