Ransquawk

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 11/07/2018

Wednesday’s session was breaking the good, upward streak, the index lost as much as 1.53% going down to levels below 12 400 points. At the same time, half of July growth was corrected, in contrast to Wall Street, where declines were not so big.

The visit of the US president to Europe during the NATO summit is in progress, investors will probably follow the news from this event. On Wednesday, a member of the ECB, Villeroy, who confirmed that the bank does not intend to raise rates by the end of the summer of 2019 have also spoken.

Among the components of the DAX index, the best result was recorded by Beiersdorf, which gained 1.40%, while Deutsche Boerse increased by 0.34%. The worst result was ThyssenKrupp, dropping as much as 4.27%, while BAYER lost 2.36%.


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DAX Intraday

The German DAX remained under the line yesterday, reaching the most-advanced daily support S3 in the area of 12,415 points. The afternoon trading hours were forming a wedge from which today a breakout took place at the opening.

On the other hand, DAX did not try to close the gap, which is a sign of weakness. A positive element in today’s session is the opening above the directional point – 12,430 – which should give an advantage to buyers in the first trading hours.

R2- 1260, R1-1280, DP1230, S1-1250, S2-1290

The first local resistance is around 12 480, slightly higher at 12,510 points there is a monthly Pivot resistance.

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