DAX is one of the most popular indices in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives ample of trading opportunity.
Session Summary 27.03.2017
The beginning of the week brings down stock markets and depreciation of US dollar, as well as increase in value of precious metals. The reason is that Republicans withdraw from changes in health care system called Obamacare. The ruling party failed to gather appropriate number of votes to pass its bill on this matter. The DAX index lost -0.57% yesterday. Over the ocean, the falls were slightly smaller, as the S & P 500 was down just -0.10%. In turn, the Japanese Nikkei closed up 1.14% this morning.
By the end of the session, the DAX index had recovered some of its losses, as investors believed in Donald Trump’s administration that it would now focus on tax cuts despite the failure of Obamacare. The index jumped above 12,000 points, which is a good sign for bulls. Another resistance is around 12200 points.
DAX Intraday
The DAX index can not break R1 level around 12085 points. It is only breaking through this area that will let move towards R2 12130 points. In turn, descent below today’s minima near 12050 points can open way to pivot point at around 12000 points.
