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 29/12/2017

The last session, despite the fact that it was held in the previous year, it is worth devoting a few words. With a low turnover, a drop of nearly 0.5% was recorded, so under the guise of the Christmas and New Year period the index found itself in the lower limit of the wide sideways channel.

It seems that the December attempt to break the top has failed and the bears are on the right track to break 12,800. In December, the drop reached 1.2% and in the whole year DAX rose by 11%.

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DAX Intraday

The session opened with a bullish gap above 75 points, as it turned out it was a gift for bears because it was used to sell at higher prices. An attempt to exit above 13,000 would give breath and fuel for growth, but this did not happen and the index in the morning is at the Friday’s minimum.

The first bulls “camp” is located at 12,780 points and the current market behavior tells us to watch that area.

DAX Longterm

In a wider perspective, breaking the support on close has become a fact (intraday not yet), the consequence will be a drop to the next strong area, ie 12 600-12 700, which also indicates the monthly spacing of pivots as well as the equality of impulses.

 

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