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 15/06/2018
The DAX index lost 0.74% on the Friday session, on the increased volume of trading, typical for the “three witches” day, while during the week the growth was robust and amounted to 1.9%. The market is shifting the projection of interest rate hikes in Euroland from September to December 2019.
Among the components of the DAX index, the best result was recorded by E.ON, which gained 2.34% and Continental increased by 2.13%. The worst came the Commerzbank company dropping as much as 4.18%, Deutsche Lufthansa lost 3.73%, and Munchener Ruck was below 1.91%.
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DAX Intraday
The market starts the week from sell-off, the DAX index opens at Friday’s minimum and breaks the recently defended level of 13,000 points and local S1 support with impetus. A quick return over 12,970 may be a trap for bears because often a strong deviation down in the first minutes of the session becomes an opportunity to buy. However, it is only the move over directional point(13060) that will allow us to think about going back to the top. In the case of defence from the bottom of 12,970, the market may go down to 12,900.
DAX Longterm
In a broader sense, both on the daily and weekly intervals, at first glance you will notice zone 12 920-12850, which is currently being tested from above. The mobilization of demand here would not be surprising, it was the first opportunity to buy for investors who stood by the side from the decision of the ECB. On the other hand, moving too far away from the top could result in the desire to play on the double peak. Some clue as to the further direction may be the statements of Mario Draghi, who will speak every day until Wednesday.
