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 05.05.2017
On Friday, there was a great optimism on the stock markets. Everyone was expecting Macron’s winning in Sunday’s election in France and very good data from the US labor market came to the market. Today, the profit-taking process has been taking place after the expected from two weeks result of presidential election in France.
DAX index has reversed from historical maxima, and the nearest support level is around 12600 points.
DAX index after breaking the pivot point around 12750 points is heading for S1 support near 12660 points. Breaking this area will open the way to 12600 points.