DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 07.04.2017
In weak moods, the stock markets ended last week due to the terrorist attacks and military interventions of Americans in Syria, which has exacerbated US-Russia relations. The US stock market was very weak, but dollar gained on Friday due to investors seeking so-called safe heaven. Paradoxically, the weak report may support the stock markets as it slightly distorts the monetary policy tightening by Fed. The DAX index plunged on Friday, but ended the day slightly on minus, exactly 0.05%. The S&P 500 reached a similar level of -0.08%, and today the Nikkei closed +0.71% today.
The DAX index is once again above 12200 points, which is a good sign for bulls. Today we have an empty calendar, so the session may be a little flat, but the attitude is rather bullsh, despite recent events. The next level of resistance is 12400 points, which is around the historical maxima.
DAX Intraday
The DAX index after the opening of futures market tries to force the R1 resistance around 12285 pts, which would move towards R2 at around 12330 pts. In turn descend below today’s minima close to 12230 points will open the way to a pivot point of 12200 points.
