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 18/06/2018
The DAX index slipped at yesterday’s session by 1.36% and again fell below 200-hour averages, which offset the whole upward trend after ECB. Market attention is focused on the US trade war with China, on Friday President Trump imposed high tariffs on more than one thousand product categories worth 50 billion dollars. China does not remain in debt primarily targeting the American agricultural sector. Investors in Europe are waiting for information and leaks from the ECB’s conference in Portugal.
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Among the components of the DAX index there was no company with a positive result. The most dropped Volkswagen by falling 3.08% and Adidas lost 2.78%. The total number of loosing companies outnumbered the number of companies gaining on the Frankfurt Stock Exchange by 525 to 220.
Stock market DAX fell yesterday in a steady move to the farthest support of S3, where a monthly pivot is placed, and almost to the end of the session remained glued to it. Today, the market is breaking 12,800 points with impetus and creates a classic, over 150-point gap (continuation?).
On the other hand, a large deviation at the start of quotations can be an incentive to reach the low with the goal of 12 730-12750 and above. However, the loss of S2 support may lead to a deepening of the sell off by another 100-150 points. Directional point quite high – 12,865.