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.
After the first hour of Wednesday’s trading, the German DAX30 stock index loses 0.41%, starting the day at level of12,000 points that is just being broken. Looking at the components of the index, it’s hard to find any positives so far – only two companies are modestly gaining value, and the rest are losing.
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The strongest depreciation is recorded by Lufthansa 1.75% and Infineon 0.99%. Shares of the German aviation giant have already successfully defeated the support zone of 26.00 and if they break the March lows, then from the technical point of view place for a more dynamic depreciation will open. Returning, however, to the quotations of the German index itself. This week the role of the main support is played by the S1 level set at last week’s levels. Interestingly, it coincides with the March 5 minima, which also blocked declines at the end of last month.The role of the resistance is played by 12,000 points and a post-holiday gap:
