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.
Summary of the session 09/08/2018
After Wednesday’s modest declines, Thursday’s session resulted in an increase in the German DAX by 0.34% and closing at 12676.11. Similarly, the French CAC, which recorded a slightly larger increase (0.35%). Peaceful trade was visible on most European stock markets.
The increases on the German index were driven by Adidas shares, whose prices increased by 9.42%. All by publishing results on the progress in the company’s last operations, and above all, a surprisingly large increase in profitability was noticed.
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After yesterday’s profits, today we are witnessing declines. Since the beginning of the session, the DAX30 has been closing at lower and lower levels.
As can be seen in the 15-minute chart below, the rate has already been under the horizontal support area within 12580. The quotations hang tightly to the external Bollinger band. In addition, the RSI indicator is at level 20, thus indicating bearish momentum.