DAX is one of the most popular index in the world. It is listed on the Frankfurt Stock Exchange. Every day there is a very high volatility which gives many trading opportunities

Summary of session 10/05/2016

Yesterday DAX index finished in positive territory again. Increases in oil prices and today’s better data from the German economy help index to grow.

Industry Orders MoM grew by 1% compared to forecast 0.3%.

Yesterday the level of support 10500 – 10550 points was defended and the price should move toward the tops from August and September close to 10750 points.

More technical analysis from Admiral Markets

DAX Intraday

Let’s see the situation on the intraday chart M15. The index after a small correction and reflection from local support moves to the resistance R1 in the vicinity of 10650 points. In addition on the chart engulfing formation is created.