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 08/01/2018
Monday’s session brought share holders a 0.36% profit and it was a fourth consecutive growth session on the German DAX index. We owe the opening to the Americans, thanks to which the market has already entered the level of 13,400, which has not been seen since November 8, last year.
Among the components of the DAX index, the best result was recorded by Infineon Technologies, which gained 1.35% and Bayerische Motoren Werke increase by 1.32%. The worst performers were: Deutsche Bank, down 0.97%, and ThyssenKrupp down 0.56%.
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DAX Intraday
The local level of resistance R1 slightly below 13,400 stopped further growth, while there was no strength among sellers to push prices to the main pivot at 13,280, the course managed only to close the gap, so positive signals persist. Today after 9:00 the index remains neutral, above the daily pivot, but in the upper range of yesterday’s candle.
The formation of the continuation triangle is formed, with the target at least the yesterday’s maximum and also the R1 point. Level 13 330 is the first important support.
