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 17.11.2017
Last session of the previous week didn’t go well for the German stockholders, the DAX index was down 0.41% and once again fell below the barrier of 13,000 points. In the whole week the index fell by almost 1%.
Among the components of the DAX index, the best result was recorded by Linde AG, which gained 2.06% and Deutsche Boerse AG + 1.28%. Fresenius SE fell by 5.43% and RWE AG lost 3.93%.
DAX Intraday
Monday’s session, just like the week before, begins with a strong accent. The supply is pressing and a gap of more than 100 points appears at the start. Last local low 12,840 is still defending but support S1 already broken, the market is catching breath only at S2.
This situation is being observed from the very beginning of ATH, if the market falls, it breaks the support very easily, but every upward approach stops at R1 or slightly higher. After 9:00 AM, DAX moves towards 12 973 (gap) and 13,000 (DP).
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DAX Longterm
This is the second bearish weekly candle, so the mentioned earlier bearish engulfing still applies. The opening of the week falls in an interesting place, under the support zone and is equal to the price from October 1st.
