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 19/12/2017
Tuesday’s session on the German index ended with a drop of 0.72% with the equally poor results of the Americans, there the level of 2,700 points on the SP500 still remains unbreached. After the gains from the beginning of the week, there is not much left, but it may be enough to maintain the level of 13,200, which blocked growth twice in November.
Among the components of the DAX index, the best result was recorded by Deutsche Lufthansa, which gained 1.58% and ThyssenKrupp by 0.94%. The worst performers were Deutsche Bank, falling 1.73% and Pro Sieben minus 1.60%.
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The attempt to continue growth was eliminated rather quickly yesterday and the loss of 13,300 resulted in taking profits. DAX rolled through the Pivot point without stopping and arrived late in the afternoon at support S1 slightly above 13,200.
Today, prices start below the 13,250 point, which should extinguish the buyers’ intake at the beginning of the session. Possible defeating it will strengthen the faith of bulls and allow us to look at yesterday’s highs. An unsuccessful attack may lead to a decrease in the area of 13,175 and further towards a weekly gap of 13,125 where the average 200-hour is also running.