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 19/03/2018
After the Friday’s contract expiration, the first session of the week brought the DAX index down by 1.39% and the rate dropped below 12,200 points for a moment. After three growth sessions, the sellers came to the fore, targeting the double March high became more likely.
Among the components of the DAX index, the best result was recorded by Beiersdorf, which gained 0.50% and Vonovia increased by 0.13%. The worst performer was Deutsche Bank, falling by 2.27%, Infineon Technologies was down 2.16%.
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DAX Intraday
The higher opening was used for sell, because after 9:00 the market closed the gap, which caused the descent below the directional point. The first local support is found only in the region of 12 150 which means a possible drop near yesterday’s low.
On the way there is still a narrow support zone 12 235-12-230 with a very low volume, which may encourage demand to buy. The local resistance point R1 is at 12,360, it will be necessary to break the session maximum to fight for this level.
