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 27/02/2018
Tuesday’s session on the German trading floor ended with declines, the DAX index fell by -0.29%. Despite a stronger slump behind the ocean (Wall Street fell more than 1%), we managed to maintain the level of 12 400. Yesterday’s data on the estimated CPI amounted to 0.5% and were in line with analysts’ expectations.
Among the components of the DAX index, the best result was recorded by Fresenius, which gained 4.43% and RWE increased by 1.37%. The worst result was Beiersdorf 2.67% and BASF was down to 2.12%.
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DAX Intraday
After two candles with a lower shadow, came time to fall, a candle with a large body, it does not mean that the reflection from 12 000 points has been completed, but the proximity of the 200-session average makes us cautious. Today, after the opening of the session, the price goes down for a moment below 12 400, not for long because after 9:00 the first demand appears.
Only exit above the directional point 12 475 will allow to think about an attack on yesterday’s highs and the upper limit of the bearish channel. Pivot additionally coincides with the zone of the highest volume – POC, forcing this point the first time it would be quite a challenge for the bulls. Local support at 12 375 – the price approached there in the morning, so at the second impulse of supply it may be harder to defend it.
