Summary of the session 04/09/2018

It was not a successful session for holders of German shares (as well as Polish ones), the index grouping the largest companies dropped by 1.1% on Tuesday, reaching temporarily level below 12,200 points. In Europe, the PPI index for July increased to 0.4% against expectations of 0.3%; while in the USA there is still no agreement regarding NAFTA.

Start trading with leading CFDs on over 10,000 global markets. Trade in currency pairs, indices and commodities.Entering global financial markets has never been easier.

Among the components of the DAX index, the best result was recorded by Commerzbank, which gained 1.63% and Deutsche Bank increased by 0.64%. The weakest was Adidas falling 2.41% while Infineon Technologies fell below 2.05%. The total number of falling companies exceeded the number of those gaining on the Frankfurt Stock Exchange by 507 to 200.

DAX Intraday

There is no trace left after attemps to save the situation from the final stage of the session, , DAX opens at Tuesday’s minimum and sell-off continues . However, it has a clearly weaker character (yesterday there were 11 bearish candles in a row), the players decide to sell, who stayed with the shares overnight or were hoping to continue of the rebound. Nevertheless, local support S1 and weekly support S2 – 12,120 are in close proximity. The DP is quite high, just like the other lines at 12,260.
The situation of Siemens, which is the largest component in DAX (over 10%), is also quite disturbing. The growth correction was rickety here and in no way changed the balance of power. The rate is moving away from the broken 200-day average and on the horizon is already August’s low – 109 euros, its permanent break can “help” in finding the direction of the index.

Leave us a comment!

Error, group does not exist! Check your syntax! (ID: 3)