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 24/05/2018

Thursday’s session wasn’t successful for stockholders, the DAX index fell 0.94% despite Wall Street’s impeccable attitude. The summit of Donald Trump with the leader of North Korea, Kim Dzong Un, was canceled, this step was expected but it certainly will not reduce the political risk. Data from Germany on quarterly GDP did not surprise investors, the reading was 0.3%.

Among the components of the DAX index, the best result was recorded by Linde, which gained 1.25% and Merck increased by 0.63%. The worst result was that Commerzbank dropped 6.42% and Deutsche Bank with a 4.79% loss.

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DAX Intraday

The second strong session for stock exchange bears caused DAX to say goodbye to the level of 13,000 points, yesterday they only managed to close the downward gap and the demand literally “ended” and the market broke with a bang monthly Pivot’s level (12,900).

Today in the morning the price returns to the equilibrium point and the “supply shock” zone, that is 12,920-930, which may cause the inflow of sell offers. A plus for bulls, however, should be the opening above the directional point and as long as the course is over 12 900 points there is a chance to continue the rebound.

Loss of 12,870 will be an invitation to deepen yesterday’s lows. The IFO data at 10:00 may be some indication of the direction.

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