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 22/06/2018
At the Friday session DAX rose by 0.54%, despite the fact that in the whole week’s view it lost as much as 3.3% and there is no trace after bullish weekly candle.The German PMI readings were mixed, the production index dropped to 55.9, while in services it was better (increase by 1.8 points to 53.9), similarly the distribution is presented throughout the European Union. On Friday, political dangers that hung over the market as early elections in Germany and Trump’s customs threats became visible again.
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Among the components of the DAX index, the best result was recorded by BAYER, which gained 2.54%, whereas Linde increased by 2.34%. The worst result was Infineon Technologies falling 2.45% and Bayerische Motoren Werke lost 1.12%. The total number of growth companies exceeded the number losing 393 to 327.
DAX Intraday
Quotes on the Monday’s session start lower (despite the Saturday’s victory of the Germans in the added time of the game with Sweden at the World Cup), the 12450 is defended together with first local support.
The 15-minute chart shows a growth channel that takes the form of a flag after Thursday breaking important support around 12,600 points. An outbreak thru the bottom will cause anxiety in the ranks of the bulls and we can quickly see the level of 12,410 or even 12,380. Stronger improvement after closing the gap and durable exit to the direction point that is now at 12,530.
