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 15/05/2018
DAX index third day remains in consolidation range, yesterday it fell by only 0.06%. Preliminary GDP data were lower than predicted 0.3% vs. 0.4% may affect the final lower reading of the domestic product in Germany. Also, the ZEW sentiment is not optimistic, for the second month in a row it remains under the line (-8.2).
Among the components of the DAX index, the best result was recorded by Commerzbank, which gained 3.87% and Volkswagen increased by 1.28%. The worst performers were ThyssenKrupp, down 6.06%, and Deutsche Bank was down 1.66%.
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Yesterday’s level S1 proved to be a good moment for going long, the point 12 925 twice prevented a deeper correction. Today’s opening was nearly 13,000 points, quite neutral but above the direction point. A thoughtful demand attack should lead to an upper consolidation limitation test of 13,030 and above.