DAX is one of the most popular indexes in the world. It is noted on the Frankfurt Stock Exchange. Every day there is a very high volatility which gives trading opportunity.
Summary of session 10/13/2016
European indices began sessions with gains supported by good data from the Chinese economy, which appeared in the night. Prices in China increased more than in forecast, both consumer and producer prices. Yesterday at the end of the session the size of declines was reduced.
Index rebounded from the support level around 10,300 points and is now heading towards the resistance of 10,500 points.
Let’s see the situation on the intraday chart M15. The index rebounded in August from the level of support in the area of 10440 pts, Slightly below located is Pivot Point close to 10420 points. Currently the exchange rate is fighting to break the R1 in the vicinity of 10500 pts, which will open the way to R2 10550 points.