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 13/04/2018
Friday’s session on the German trading floor ended with an increase of 0.22% and throughout the week the profit from long positions reached 1.64% and it was the third consecutive week in a row. DAX broke the same and tested a significant level of 12,300 points from above, such an upward sequence of weeks appears for the first time since October last year.
Among the components of the DAX index, the best result was recorded by Vonovia SE, which gained 1.91% and Bayerische Motoren Werke closed above the line of 1.56%. The worst performers were Deutsche Lufthansa, falling 1.86% and Pro Sieben, which lost 1.55%.
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Despite geopolitical risks and weekend raids on Syria, markets remain calm. The German DAX opened with a bullish gap, right next to the monthly resistance of Pivot (MR1), which was already attacked on Friday, with miserable results.
With a natural lack of demand, the market slides down to 12,460 if the buyers can not keep it here for too long, the first local support is only around 12,400, where the Friday lows are placed. Alternatively, approaching the area of 12,500 would be read as an opportunity to sell at EMA 200 from the daily chart.