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 January 18, 2018
The Thursday session ended successfully for investors who were bullishly focused on the German stock market, the DAX index increased by 0.74% and found itself again close to 13,300 points, so made up almost the entire Tuesday’s drop. Interestingly, the number of newly opened positions does not increase during the growth.
Among the components of the DAX index, the best result was recorded by Infineon, which gained 5.55% and BASF by 2.75%. The worst performers were Merck, falling 1.42% and Fresenius 0.58% below the line.
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Yesterday, the DAX reacted fairly precisely to the resistance level R1 at 13,280 and turned back to the directional point, since the next upward movement was activated, thus activating the breakout from one of my favorite triangle formations, the aim of which should be 13,350.
So far, on the Friday morning, the index tests local resistance at 13 330, where I expect an influx of sale offers to push the price into the opening area. DP point can be a good place to look for long positions and attack on the already mentioned 13,350.