DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 04.05.2017
Yesterday was a good mood on the stock markets due to Macron’s victory over Le Pen in Wednesday’s debate. Today markets are waiting for report from the US stock market and Janet Yellen’s speech. However, the main event is the second round of the presidential election in France, which will take place on Sunday. Even winning of moderate candidate Macron can cause profit taking, as this scenario is already discounted.
Yesterday DAX index gained 0.96%, the S&P 500 recorded a slight upward move of 0.06%. The Tokyo Stock Exchange was closed.
DAX index set new historical maxima around 12650 points. Currently medium-term level of support is 12600 points.
DAX Intraday
After opening the futures market DAX index rebounded from the pivot point at around 12600 points, and a hammer formation was drawn on 15 minute chart. This may suggest move towards historic maxima near 12650 points. In turn, descent below 12600 points will open the way to S1 support around 12560 points.
Key data for the DAX index
14:30 – Situation on the US labor market
19:30 – Public Speech of Fed President (Janet L. Yellen)
