Summary of the session 09/02/2018
Friday’s session on the German DAX also ended with a drop of -1.27%, the index deepened the minima from the beginning of the week, going down temporarily below the barrier of 12,000 points. Throughout the week, the index lost almost 5% and rapidly approached the important August low.
Among the components of the DAX index, the best result was recorded by Infineon Technologies, which gained 0.71%, it is the only company on the positive side. The worst result was the loss of Commerzbank AG by 4.09% and Pro Sieben, down 2.43%.
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The Friday evening approach is continued today, with the strength of the bulls taking advantage of the situation to beat the last daily maximum. The opening also dropped above the pivot (DP) level and after 9:00 the course tested the gap from the top. Not far, because at 12 360 is the first local level of resistance, where the average 200-period is also running.
In a broader sense, DAX remains under 200-SMA on the daily chart, and quotations have reached the most-advanced point S3 (monthly), which may give hope for a reflection at least in the area of 12,600.