DAX is one of the most popular indices in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives ample of trading opportunity.
Summary of session 17.03.2017
Last week on the Frankfurt Stock Exchange ended in optimistic mood. After meeting of the Federal Reserve there is a good mood on equity markets. Today promises to be a very quiet day due to the virtually empty macroeconomic calendar, and closed stock exchange in Tokyo.
On Friday, DAX index ended the session +0.10%. All the time is above level of 12,000 points suggesting upward movement to the next resistance level at around 12200 points.
DAX is located just below pivot point in the vicinity of 12070 points. Breaking this area will pave the way for R1 in the vicinity of 12100 – 12120 points. In turn breaking today’s lows at around 12040 points can cause movement in direction of S1 in the vicinity of 12020 points.