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 06/04/2018
German DAX fell on the previous Friday by 0.52%, this was a reaction to weak data of Non Farm Payrolls and earlier worse industrial production, which amounted to -1.6% with a simultaneous revision of data up for the previous month. However, bulls in Europe are bolder than across the ocean, because DAX gained 2 percent over the course of the week.
Among the components of the DAX index, the best result was recorded by Pro Sieben, which gained 2.66% and Deutsche Lufthansa increased by 2.01%. The worst performers of Daimler AG were as much as 6.07% and Deutsche Bank was down 1.28%.
Naga Markets is an investment company licensed by CySEC, offering access to SwipeStox, a social app for traders, where they can share their trading ideas about Forex, stock indices and CFD’s thanks to simple professional investors’ transaction mirroring.
We start the week with a strong accent and in the morning DAX broke the level of 12,300, with which he fought the whole Friday session, in addition, such strengthening distances us from the last month’s main Pivot (12,100).
Breaking the first resistance intraday R1, increases the chance of a bullish charge up to 12,350 (R2), it would mean a two-day maximum, on the other hand, such a significant deviation may turn out to be a gift for bears, which is clearly visible on the daily interval (above).