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 07.06.2018
Stock index DAX lost 0.15% on Thursday’s session, while the futures contract depreciated much more due to the evening’s sell-off. Data from Germany about orders in factories looked poorly in April they fell to -2.5% against forecasts + 0.8%. The beginning of the G7 summit may be important for the markets, Germany and France want concessions on Donald Trump’s customs policy.
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Among the components of the DAX index, the best result was recorded by Commerzbank, which gained 1.32% and Fresenius by 1.14%. The weakest was the Adidas stock by 2.56%, and Linde was down 1.31%. The indices have been dragged down by the food and financial services sectors.
Quotations have returned again under the monthly pivot level and into the 200 DMA price zone, which puts the bulls in a bit of an embarrassing situation, because the weekly is falling, and it is worth remembering about the upcoming period of expiration of derivatives.
Friday’s session starts with a bearish gap, and on the horizon the first level of support R1 12 615 is already visible, where buy orders should be located. However, only the exit to the directional point and even better 12,800 points would improve the situation of the bulls. The local resistance point is relatively high, at 12,870 points.