The Monday session, despite the initial downward move on the DAX, ended + 0.5%. In less than two trading hours of trading, there was no sign of 100 pips bearish gap.

Such volatility of the market was ensured by the politicians, the talks on the formation of the government in Germany failed due to the breakdown of negotiations by the Free Democratic Party (FDP). It is possible to set up a minority government – says Angela Merkel today.

Among the components of the DAX index, the best result was recorded by Linde, which gained 2.06% and Deutsche Boerse AG by 1.28%. Fresenius SE fell the most, -5.43%.

DAX Intraday

After yesterday’s “high day” on the DAX index, where the declines were stopped by the second level of Pivot support, today the ranges between the Pivot lines are naturally expanded. With a clear opening above DP, the first test of yesterday’s demand will be the mentioned balance point – 12,995.

Looking up, the local resistance is 13 137, at the same time it is the peak of November 14th, so the last high before setting of the minimum (which yesterday was maintained). Will we start the game with a double bottom?

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DAX Longterm

The last day candle includes not only Friday range, but three previous sessions. As I mentioned above, we can deal with a double bottom, but only closing above 13 100 will give impetus to growth and attack the top.

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