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 12/02/2018
The first session of the week ended successfully for shares holders, the DAX index showing the strength of the German economy increased by 1.45%, mainly due to the low base. Monday did not abound in important macroeconomic data, however the market maintained the level of 12,200 points.
Among the components of the DAX index, the best result was recorded by Deutsche Bank, which gained 4.03% and Linde AG increased by 2.92%. The worst performer was E.ON AG, which recorded an increase and closed above the line of 0.33%.
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On the DAX forward contract, the last two sessions are breath for bulls who have been pushed to the defensive. Today on the opening of the session index dropped slightly lower than yesterday’s fixing, just after 9:00 the first buyers were found, pushing the price upwards from local support S1 – 12,245. However, the defense of yesterday’s minimum at 12,200 may be more important to buyers.
The first inflow of sell offers are expected in case of reaching the 12,300 directional point is also the area of the greatest interest of players at the Monday session, another resistance is at 12,400.