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 22/05/2018
The DAX index yesterday recorded a very decent increase of 0.71%, during the session it managed to beat high levels from the opening and stayed above. This happened despite the weak attitude of Wall Street when after the words of President Trump about dissatisfaction with the agreement with China, the market began to decline. It is not clear whether a meeting with the leader of North Korea on June 12 in Singapore will come to fruition.
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Among the components of the DAX index, the best result was recorded by ThyssenKrupp, which gained as much as 9.46% and BMW increased by 2.55%. The worst performers of RWE were 0.99% and Merck lost 0.61% and Covestro was down 0.55%.
DAX Intraday
On Tuesday’s session, the market reached second monthly resistance – Pivot located just above 13,200 points and fears of overcoming Friday’s minima were not confirmed, then the market after a few hours of struggle stopped on the gap.
Today there is also a gap, the market opened below the level of the daily pivot and it looks like it is heading towards the first local support S1 – 13,076 near yesterday’s minima (green base). Breaking the support may lead to a test of 13,000 points. The resistance remains 13.200- 13,220, a lot will depend on the environment, especially the EURUSD, FOMC and PMI from Germany.
