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 12/04/2018
On Thursday’s session the sentiment on the stock markets improved, the DAX index gained 0.98% and after one day of correction, we have a return to growth. After creating a double bottom, the market showed a 150 point upward rally, which was equal to the maximum of 12 March. It is worth noting that today, ie on Friday the 13th, the season of results of US companies begins, high-profit growth is expected (after tax reduction).
Among the components of the DAX index, the best result was recorded by Deutsche Lufthansa, which gained 3.05% and RWE increased by 2.93%. The worst performers were Deutsche Boerse, which fell 2.47% and HeidelbergCement was down 0.25%.
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The first few bars of the session fit into the good mood on the stock exchange although after 9:00 their attendance was accented by bears. However, as long as the index doesn’t fall below the trend line, it seems that the market is heading for a local resistance of 12,500, where is also a monthly level of Pivot (MR1).