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 15/01/2018
Monday’s session on the German DAX ended with a symbolic drop of 0.34% and quotations almost throughout the day were “glued” to the level of 13,200 points. The absence of American capital (abbreviated US session) markedly reduced turnover.
Among the components of the DAX index, the best result was recorded by Pro Sieben, which gained 1.93% and RWE AG by 0.71%. The worst performers were Deutsche Lufthansa, falling as much as 4.17% and Vonovia -1.28%.
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At yesterday’s session there were again buyers in the area of 13,175 and today the quotations start with a gap above 13,200 with a good American attitude due to the SP500 index, which has reached never seen level of 2800.
After two days of consolidation, there is considerable narrowing at Pivots levels, which is why I expect today or tomorrow stronger directional movement. After 9:00 the quotes broke resistance R1 and on the target is 13,300, in the case of a return to 13,250, I will consider a long position.