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 07/03/2018
Wednesday’s session gave a bit of breath to stock exchange bulls, the DAX index rose 1.09% and it was the third consecutive growth session. In the absence of significant data from the German economy, we managed to carry increases until the end of the session, which will not be negligible in the following days.
Among the components of the DAX index, the best result was recorded by Deutsche Lufthansa, which gained 3.70% and Fresenius wzrsost by 3.21%. The worst performers were Pro Sieben, falling 6.12%, and Deutsche Telekom was down 0.30%.
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Yesterday, the level of 12,000 points was everything that supply managed to achieve after the low opening, which became a trap what I suggested in yesterday’s entry. The bulls used the gift and the market, without any major correction, reached the point of interest and then the resistance R1, where the reaction was stronger.
Today, the opening was neutral, close to the high and so the players accept the area gained after the closing of the European session. A longer stay in the area of 12,250, should provoke to break into weekly maxima, which also needs overcoming the abolition of 61.8 of the last wave of declines in daily terms. The bulls will deal the cards until the level of 12 160 is maintained. Interestingly, the region 12 110-12 120, was almost completely “untraded” yesterday.