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 21/02/2018

Wednesday’s session on the German trading floor did not bring any solutions, the DAX index fell by a symbolic 0.14%, although it was an attempt to attack at 12 500, it failed. Yesterday’s PMI data was slightly weaker than a month earlier but it is still on historical high levels.

Among the components of the DAX index, the best result was recorded by Deutsche Boerse AG, which gained 2.85% and Deutsche Lufthansa by 1.54%. The worst performers were RWE, falling 2.19%, and Adidas was down 1.09%.

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 DAX Intraday

At yesterday’s session, Tuesday’s 12,325 lows have been defended and so far this level is still holding at the opening. The yesterday’s attack on 12,500 may be considered as a good test, although the plans of the bulls have been interrupted by FOMC minutes.
After 9:00 the price is at the local S1 support, I expect the gap to close and a try to approach the 12 200 directional point, there is also a 200-hour moving average, which is still undefeated. In case of a permanent breakdown thru the bottom of level 12 300, the situation of players holding long positions will significantly deteriorate.

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