DAX is one of the most popular indexes in the world. It is listed on Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 21.03.2017
On Tuesday afternoon, market sentiment on the stock markets was spoiled by Americans who feared by problems with tax cuts by Donald Trump’s administration, have slipped the S & P 500 by more than 1.2%, posting the biggest decline in five months. The abolition of the Obamacare Act is a prerequisite for lowering taxes, and the vote on this issue is due to take place tomorrow. The mood on other stocks was also not the best. DAX fell 0.75% and today the Japanese Nikkei closed above 2% in the negative.
DAX index broke yesterday’s support level of 12,000 points, and today at 11900 points. The next level of support is around 11800 points.
DAX Intraday
The index is just under resistance at around 11,900 points, which broken will let move to pivot point near 11970 points. In turn, the fall below today’s minima around 11860 points will open the way to 11830 points and 11800 points.
