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

Summary session 12/01/2016

Yesterday, on the Frankfurt Stock Exchange red was the dominant color. Markets in Europe are afraid of referendum in Italy in which the citizens of this country have to decide and vote if they want changes in the constitution. The changes would reduce the role of the Senate which would improve legislations in Italy at least according to current Prime Minister Matteo Renzi. The referendum is to be held next Sunday.

DAX stopped yesterday in the vicinity of 10500 pts and today easily broken this level, suggesting further declines.

dax30daily

DAX Intraday

DAX is trying to break the support level S1 in the vicinity of 10430 points. After breaking the price should move in the direction S2 in the vicinity of 10375 points.

More technical analysis from Admiral Markets

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Key data for DAX

14:30 – data from the US labour market NFP

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