Summary of the session 10/09/2018
Yesterday’s session brought a slight growth, DAX rose 0.22% to around 12,000 points. The Italian finance minister said on Tuesday that the government will try to lower the deficit and maintain the budget.
Among the components of the DAX index, the best result was recorded by Commerzbank, which gained 2.33%, while RWE increased by 1.98%. The worst was BAYER falling 1.43% while BASF lost 0.77%. The total number of growing companies exceeded the number of losing companies listed on the Frankfurt Stock Exchange 462 to 255.
On the forward contracts, after seven sessions there was a rebound, the market so far could not rise permanently over 12 thousand points. Today’s growth lasted only a moment, despite the opening over the daily pivot, the EURUSD notations, which has been growing dynamically since yesterday, did not help.
Looking at the DAX chart, you can see that after breaking the trend line and the daily baseline, the course is already heading for S1 support – 11935 points. From the top, a very strong barrier is the monthly S1 pivot, which now serves as a resistance. Only its breaking upwards could improve the situation and return to the region of the weekly pivot, that is – 12,080.