DAX is one of the most popular indices in the world. It is listed on Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives ample of trading opportunity.
Session Summary 24.03.2017
Republicans withdrew from the amendment of the Health Care Act, commonly known as Obamacare. The same reason as in the case of postponement of Thursday’s vote. The ruling party did not find enough votes to abolish the Obamacare Act. Donald Trump now assures that he will focus on reducing taxes and road investments, but has previously argued that the abolition of Barack Obama’s bill is necessary to change the remaining projects. On Friday, the Wall Street session ended with a slight downside, but today’s market is already declining from early morning. The Nikkei index ended the session with a 1.44% drop, and the DAX index started its session with a near 1% decline.
The DAX index has so far stopped at the support level of 11,900 points. Breaking this area will open the way to further support around 11800 points.
DAX Intraday
The DAX Index, after strong falls, slightly rebounded to the level near 11970 points. The defense of this zone will let move towards the support of S3 11935 points, followed by 11900 points.
