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 19/04/2018
The Thursday’s session ended with a decline of only 0.19% and once again the level of 12,600 remained unconquered. The European market, however, proved to be much stronger than Wall Street, where the falls reached 0.6%. The PPI index in Germany rose 0.1% today after a 0.1% drop in the previous month, analysts expected an increase of 0.2%.
Among the components of the DAX index, the best result was recorded by Continental, which gained 2.02% and Commerzbank grew by 1.48%. The worst result was Infineon Technologies, which fell 2.10%, and Adidas was down 1.50%.
The declines on Wall Street and Asia are continuing today and the DAX remains relatively strong defending the low and remaining within the lines that I set yesterday. At the opening of the session, the attempt to attack the daily pivot ended with a fiasco and the rate returns again to 12,575.
The nearest support point is around 12,520 so below the yesterday’s low. Slightly below we have 12,500 – a monthly pivot, which has already been defeated and now should constitute a demand barrier.