DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 26.06.2017
The beginning of the week brings a reflection on the stock market. This is helped by the rebounding crude oil, which after a very bad last week finally bounces. However, there is still concern that the increase in supply of this energy resource from Nigeria, Libya and the United States will undermine the efforts of OPEC members and other oil producers who intend to keep the output to a limited extent by the end of the first quarter of 2018. In addition, hedge funds decreased by 31%. The number of long positions on the oil futures market is based on US Commodity Futures Trading Commission data for June 20th. At ICE London, this index fell by about 25%. As a result, the number of long positions dropped in the US to the lowest level in 10 months. In London the indicator has reached a 17-month minimum. Nevertheless, a temporary rebound in oil prices has helped, at least for now, rise in stock prices.
On Monday, the S & P 500 ended the day practically at the same level with a score of 0.03%. DAX increased by 0.29%. The German index set a new record around 12951 points. However, he did not manage to stay at this level and we observe an adjustment that broke the support level of 12800 points. Yesterday’s attempt to return above 12800 points, but so far failed. The index is in the range of 12700 – 12800 pts.
DAX Intraday
The DAX index rebounded from S1 support around 12700 points. and can move towards the pivot point near 12770 points. Breaking this level will open the way to a circular zone of 12800 points. On the other hand, pivot point protection can cause the movement to S1 again and possibly even S2 around 12630 pts.
Key data for the DAX index
10:00 – ECB President Draghi Speaks
