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 11/01/2018
Thursday’s session on the German DAX ended in drops by 0.59%, the last two days were a definite retreat from the tops at higher turnover than at the beginning of the year and the accompanying increase in positions on futures which means activity on the short side of the market.
Among the components of the DAX index, the best result was recorded by Commerzbank, which gained 1.66% and HeidelbergCement by 1.06%. The worst performers were SAP, falling 3.33% and Vonovia -2.47%.
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At yesterday’s session DAX broke the bottom of lately formed consolidation, level 13 230 could not withstand, today in the morning the price returns to the broken support that now becomes a resistance. In addition, all happens at the daily pivot and if the price falls below 13 200 it will additionally result in the inflow of sell offers. Local support is at yesterday’s “low” – 13,155.