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 16/01/2018
At yesterday’s session, the DAX index gained 0.35%, but this result does not reflect what happened during the day (rally up by 150 points and then a decrease by 200). On the forward contract, there was an increase in the number of open positions with the falling market, on the increased volume which does not bode well for bulls.
Among the components of the DAX index, the best result was recorded by Bayerische Motoren Werke AG, which gained 3.17% and Volkswagen AG increased by 2.28%. The worst performers were HeidelbergCement, falling 1.41% and ThyssenKrupp -1.38%.
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At the narrowed pivot levels, yesterday the index reached the extreme resistance R3 – 13,300 after which it dropped to the equilibrium point and after closing in Europe even lower to support S1 at 13,150.