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.
The last session of the month did not change the balance of power on the German index, the session balance was just -0.06% and again closed below 13,200. The American SP500 closed the January with a very strong candle (150 points), which is somehow the culmination of the entire last year’s climb, so strong unidirectional traffic has not been since 2016.
Among the components of the DAX index, the best result was recorded by Pro Sieben, which gained 4.23% and Adidas increased by 1.22%. The worst performers were ThyssenKrupp, falling 1.40% and Merck minus 1.34%.
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DAX Intraday
Returning to the DAX index, which performs slightly worse from SPX, today’s first February session starts with strong buing, which fits in with the statistics and the index starts 50 points higher, with the R1 resistance. After 9:00 we observe a slight correction in the area of 13,200 and DP, which should stop the drop, it is also the zone of the most-traded place at yesterday’s session.
The new month is a new reference point in the form of a monthly pivot, which this time is at 13,758 points, which is slightly above yesterday’s minimum.
