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 ample of trading opportunity
Summary session 12/02/2016
In Sunday’s referendum, Italians rejected constitutional changes proposed by Prime Minister Mateo Renzi. Italian Prime Minister announced that he will resign. Investors reacted to the euro with sell-off and small falls on the Frankfurt stock exchange. However, soon DAX index returned to growth. Investors from the beginning did not believe in a positive outcome and that the Italian referendum will change anything in Europe.
The index after rebounding from support at around 10,500 points headed north and stopped just near the resistance of 10,700 points.
DAX is trying to break the resistance R3 in the vicinity of 10720 pts., Which will open the way to the recent highs at around 10800 points.
Key data for DAX
16:00 – The ISM index for services in the US