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 24/04/2018
During the Tuesday session, DAX index lost 0.89% in the regular session, while the forward contract continued to fall to 20:00 reaching 12,400 points. Wall Street is the fourth bearish session in a row, where paradoxically the results of the companies surprise in a positive way. Coming back to the German economy, the IFO business index is clearly falling as confirmed by the deterioration of sentiment in the real economy.
Among the components of the DAX index, the best result was recorded by Deutsche Bank, which gained 4.21% and SAP increase by 3.51%. On Tuesday, the company published results for the first quarter of 2018, where revenues amounted to 5.26 billion and net profit 709 million, SAP it is traded at P / E above 25.
The worst performers were Adidas, falling 3.26% and Fresenius loss 2.62%. Today we will get to know the results of the exchange itself, that is, Deutsche Boerse (the rate is quite high> 110 Eur) and Linde.
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DAX Intraday
At yesterday’s session, we managed to test both the maximum from April 18 (12,650) and the minimum from one and a half week ago and the monthly Pivot R1 for 12,500 points was also broken. In addition, the Monday low of the pinbar candle was lost.
In the morning the index tries to make a move to the direction point, which ideally coincides with the level just broken, there I would expect an inflow of sales offers (ask). The proximity of the average 200-hour SMA speaks in favour of the bulls, while the first local S1 support is only in the area of 12,340 points.
