DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 16.06.2017
On Friday, investors quickly forgot about the Federal Reserve meeting, which for the second time raised interest rates in the US this year. The Bank of England (BoE), the National Bank of Switzerland (SNB) and Bank of Japan (BoJ) kept interest rates on the same level as we wrote at the end of the week.
On Sunday the French president’s party Emmanuel Macron, La Republique en Marche (LREM), along with the coalition party Mouvement démocrate (MoDem), successfully won the second round of parliamentary elections in France, gaining at least 301 seats in the 577-member National Assembly, significantly improving sentiment on Monday morning.
Today the Nikkei index gained 0.62% today. On Friday, the DAX index rose 0.48%, the S & P 500 ended the day practically in the same place with a score of 0.03%. The German index set a new record on Wednesday at 12921 points. However, we did not manage to stay on this level and on Thursday we saw a strong correction towards support at around 12,600 points. Support however was defended and now the DAX tends towards historical maxima, after breaking the level 12800 points.
After the opening of the cash market, the index broke all resistance and is currently heading for historical maxima around 12920 points. However, if there was a correction, level R1 near 12850 points is the closest support.
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