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 20/02/2018
Tuesday session on the German stock exchange was successful, the DAX index gained 0.83%, but in no way did the result of the session bring us closer to bigger decisions. German ZEW index, better than analysts’ forecasts (17.8pts vs. 16pts), is lower than the one a month ago.
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Among the components of the DAX index, the best result was recorded by Infineon Technologies, which gained 2.23% and Deutsche Bank increased by 1.52%. The worst performers were: Deutsche Boerse – 0.61% and Bayerische Motoren Werke – 0.55%.
The index reacted very well yesterday on the Pivot line, after the initial rejection of the directional point (12,420) went south to the minimum of Monday and then it rebounded directly to R1, where the supply reaction occured about what I wrote in yesterday’s entry.
Today, after a stronger start, quotations cover the bulish gap and move north again after 9:00. In the area of 12 415 (DP) there is significant support with volume confirmation (market profile), lack of its defense will cause an increase in risk aversion and declines in the area of 12,330, alternatively the first technical resistance in the area of 12,500.