DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is a very high volatility which gives many trading opportunities.


Session Summary 15.05.2017

The new week started very well on the stock markets, especially in Frankfurt. DAX Index set new historical high, which is linked to the CDU’s win in the regional parliament elections of North Rhine-Westphalia, as we wrote more in yesterday’s comment. However, not only the elections in Germany caused good mood in the markets. OPEC and Russia are getting closer to a deal to cut oil production for the second half of 2017. Saudi Arabia and Russia want to extend the agreement until March 2018. WTI oil price increased by $1 per barrel to around $49 per barrel. Additionally in Beijing is held a forum for a project called the New Silk Trail. New infrastructure connections are to be created and the value of the investment is expected to exceed $100 billion.

DAX index broke yesterday’s historical maxima around 12800 points, which is a strong bullish signal, at least in the short term. The lack of a big correction for a long time should, however, increase caution, especially in the heavily overheated market.

DAX Intraday

From when the futures market was opened, DAX index stays above the pivot point around 12800 points, which may be a signal to R1 near 12850 points. In turn, descent below 12790 points will open the way to S1 at around 12740 points.

Key data for the DAX index

11:00 – Index of Institute of ZEW
11:00 – Gross Domestic Product, Rev. In the euro zone

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