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 07/08/2018
Tuesday’s session in Frankfurt was bullish, the market ended the day plus 0.40%. Another weaker data on industrial output m / m, reading amounted to -0.9%, also there was a downward revision of data for the previous month. The Federal Statistical Office also reported that the trade surplus amounted to 19.3 billion euros compared to 20.4 billion euros a month earlier.
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Among the components of the DAX index, the best result was recorded by Deutsche Post, which gained 3.79%, while Deutsche Bank increased by 1.56%. The worst result had Commerzbank which fell 1.54% while Beiersdorf was on minus 0.74%. The total number of growing companies exceeded the number of losing listed on the Stock Exchange by 374 to 321.
DAX’s prices are slightly lower but still above yesterday’s minimum with a bullish gap that will probably be closed. The course is trapped between important points: from the bottom it is a legible grouping of the monthly pivots + S1 while at the top the daily + weekly pivot zone, the break should show the further direction.
Looking at the daily interval, the emerging upper wicks during the last two days suggest a decrease in the area of 12,500 points. The situation on the volume also favors bears, at least until the exchange rate stays below the opening.