DAX is one of the most popular index in the world. It is listed on the Frankfurt Stock Exchange. Every day there is a very high volatility which gives many trading opportunities

Summary of session 10/05/2016

Yesterday DAX index finished in positive territory again. Increases in oil prices and today’s better data from the German economy help index to grow.

Industry Orders MoM grew by 1% compared to forecast 0.3%.

Yesterday the level of support 10500 – 10550 points was defended and the price should move toward the tops from August and September close to 10750 points.

More technical analysis from Admiral Markets

dax30daily-4

DAX Intraday

Let’s see the situation on the intraday chart M15. The index after a small correction and reflection from local support moves to the resistance R1 in the vicinity of 10650 points. In addition on the chart engulfing formation is created.

dax30m15-2

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