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 08/05/2018
At yesterday’s session there was a slight decline in the DAX index by 0.28%, but looking at quotations of forward contracts, both the upward trend line drawn yesterday and the monthly pivot was maintained. In the US, declines were also limited, even though the White House broke the nuclear agreement with Tehran. Among the components of the DAX index, the best result was recorded by Beiersdorf, which gained 2.75% and Fresenius increased by 1.79%. The worst performers were Deutsche Post – 6.49% and RWE lost 2.14%. Today, need to pay attention to the results of Siemens giant (forecast 1.72 EPS).
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Yesterday, the DAX stayed for the majority of the session under the directional point, only in the late afternoon the bulls managed to recover a certain area. Today, the situation in the morning is neutral, if we manage to maintain the price above 12 900 points, the attack on 12,980 and later 13k seems more likely.