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 21/03/2018
Wednesday’s session ended with declines, despite a good session on Tuesday .. hopes for increases, however, subsided after the first few hours of trading. In the evening, the US Federal Reserve raised interest rates, stock markets began to lose, the German DAX fell below 12 300 points.
Among the components of the DAX index, the best result was recorded by Adidas AG, which gained 1.80% and ThyssenKrupp increased by 1.70%. The worst performers were Deutsche Bank, falling 4.86%, and Merck was down 1.20%.
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DAX Intraday
On Thursday, the opening fell below the DP and the market slid quite well to the first local support level S1. Interestingly, here is exactly a round level of 12,200 and after the opening of the cash market you can see a stop in the declines. The daily pivot point at 12,290 may attract the price in the following hours of the session.
A more important support point is 12 160 and slightly lower 12 110 ie the last minimum of the larger bearish candles, resistance is 12 380 and 12 450 respectively. The market is moving in this range for last 8 sessions, breaking one of them will be a catalyst for impulse.
