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 13/02/2018
Tuesday’s session on the German stock exchange ended with declines 0.70%, the market spent most of the day under 12,250. Interestingly, the last two days brought a drop in the number of open positions, it seems that some players have already decided to book profits from short positions.
Among the components of the DAX index, the best result was recorded by Deutsche Lufthansa, which gained 1.44% and RWE AG by 0.55%. The worst performers were E.ON, down by 1.66%, and Deutsche Telekom was down 1.59%.
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The last few days volatility is decreasing which can be seen on the narrowly spaced pivot lines at today’s session. The opening fell out above the directional point and already a dozen or so minutes later the market broke the yesterday’s maximum. After 9:00 a stronger pressure from sellers to local resistance R1 brings prices back to the area of important support (red horizontal line on the chart).
The area code DP – 12,240 is located in the region of yesterday’s consolidation where “the most trades in the session were traded”. Lower local support point S1 coincides with Tuesday’s “low”.