DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.

Session Summary 12.05.2017

Friday on the stock markets ends in quite good spirits, despite the news in daily Der Spiegel that ECB is preparing to quit the QE program. This devaluation of assets would take place from the beginning of 2018 and amount would be reduced by EUR 10-20 billion per month. So far, investors do not seem to care about these rumors and remain in good mood after the French election.

Yesterday elections were also held in Germany. Exactly the elections to the regional parliament of North Rhine-Westphalia. Angela Merkel CDU, won which is a good omen before more important Bundestag elections. Continuation of current government Chancellor Angela Merkel is positive about the markets and guarantees status quo.

The DAX index last week remained at an important resistance level around 12800 points, close to historical maxima. Breaking this level will be an important signal for further upward movement. On Friday DAX gained 0.47%, the S& P500 closed the day gently at minus 0.15%. Today, Japanese Nikkei closed virtually at the same spot as in the previous session, and the difference was -0.07%.

DAX Intraday

After opening of the futures market, investors are showing a rather bullish attitude, which may be the result of the CDU’s victory in regional elections. DAX Index broke resistance level R1 around 12800 points. And an attempt is made to break R2 near 12840 points. If this succeeded it will open the way to R3 at around 12890 points.

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