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 10/05/2018
The good streak on the German index continues, on Thursday’s session the increase was 0.62% and the 13k level was reached. This is the highest closing from February 2nd and promises to be the seventh week of increases. A similar situation took place on Wall Street, where SP500 gained nearly 1 percent, Apple’s shares were most expensive in history.
Among the components of the DAX index, the best result was recorded by E.ON, which gained 2.69% and Linde increased by 2.06%. The worst performers were HeidelbergCement, falling 1.19% and Munchener Ruck was below 0.73%.
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.
Quite a strong resistance level at yesterday’s session was resistance R1 at 13 025 points, the supply reaction appeared twice, but the direction point is still defended. The situation is similar today, the quotations begun above the main Pivot – 13th, which gives a higher probability of continuing upward movement.
The first local support is at 12,960 additionally confirmed by the uptrend line, the loss of this level may lead to a short drop in the vicinity of 12900. The nearest resistance is 13070 and 13100 points.