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 27/07/2018
During Friday’s session, the index continued to increase and was 0.40% higher, and the whole week closed on + 2.38%. On the weekly chart, a magnificent white candle was created at the new maximum of the trend, thus negating the former supply pinbar
Among the components of the DAX index, the best result was recorded by Linde, which gained 2.64%, while Deutsche Lufthansa increased by 2.09%. The worst was BASF falling 2.69% and Deutsche Boerse fell under the line 1.74%. The total number of growing companies exceeded the number of losing listed on the Frankfurt Stock Exchange by 400 to 286.
Naga Markets is an investment company licensed by CySEC, offering access to SwipeStox, a social app for traders, where they can share their trading ideas about Forex, stock indices and CFD’s thanks to simple professional investors’ transaction mirroring.
At the Friday session, DAX managed to reach resistance R1, seting a new peak, but it was too much and after breaking out of the wedge he created, the market slumped lower. Today at the opening we see a gap down, which at the same time is a test of Friday’s low – 12,785, so far wesupportdefends itself and after opening the cash market the gap has been closed.
DAX is located from the opening under the directional point – 12,825 and under the volume resistance: POC (12,820) and vwap (12,840). Returning over the daily pivot will be an incentive to fight for a new high and up to 12,920, while the hesitation of demand in this place may result in returning to the S1 support area – 12,770 and lower to the weekly pivot at 12,725.