Summary of the session 16/08/2018

Yesterday’s session on the German DAX index turned out to be very calm (+ 0.61%), especially if we compare it to the Wednesday’s session when the German index lost nearly 1.6%. The 1-hour chart showed a recovery of earlier decreases, which took the form of a channel.

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DAX intraday

During today’s DAX trading session, the market is struggling with channel support, as well as a 20 period moving average, which is the internal Bollinger band. Breaking down the two above-mentioned supports, dynamic and diagonal can once again open the way for declines towards the key level of defence near 12130. Alternatively, the further movement of the quotations in the channel will give you a chance to test the resistance, which is visible at 12300.

Today’s pivot levels: 17.08 S3 = 12,104.44 S2 = 12,136.68 S1 = 12,186.92 PP = 12,219.16 R1 = 12269.40 R2 = 12301.64 R3 = 12351.88

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