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


Session Summary 16.05.2017

Yesterday we had quite a quiet day on stock markets. GDP data from the euro area turned out to be in line with estimates, and the ZEW Institute index was slightly below market expectations. Today, it is worth paying attention to inflation data in the euro area. A stronger rebound may revive rumors about the ECB’s exit from loose monetary policy, although it is expected that the program will last until at least the end of 2017.

In the USA moods are slightly spoiled by rumors about disclosing the Russian Foreign Minister information about planned terrorist attack by the so-called Islamic State. The White House, of course, denies the revelation, but the dollar index falls to levels from November last year. The indexes reacted softly and only slightly lowered in yesterday’s session. S&P lost 0.07% and German DAX index – 0.02%.

The DAX index is not able to continue rising after establishing new historical maxima around 12800 points. This may suggest a correction in near future. Medium-term support is around 12600 points.

DAX Intraday

After opening futures market, DAX index moved towards support level of S1 at around 12760 points. However, this area failed to be broken and formation of falling star appeared on the 15-minute chart. Breaking S2 near 12730 points will be a signal for further declines in to round level 12700 points. However, if market managed to cross the S1, it would probably opens the way to an area of 12800 points.

Key data for the DAX index

11:00 – Consumer inflation in the euro area

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