Summary of the session 21/08/2018
German DAX index during yesterday’s session strengthened by 0.43%. The rate reached a high around 12432.50, and the maximum of the session from last Wednesday were tested, when the sell off and test of support at 12130 took place.
However, as can be seen in the daily chart below, until the closing of the session a significant portion of the profits was returned, which suggests that the sellers managed to maintain the resistance at 12430, at least temporarily.
Looking at the data from the beginning of the year to the end of yesterday’s session, DAX quotes lose 4.13%. The ADIDAS company is in an interesting position, which gained 0.48% yesterday and was thus close to historic highs.
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After the start of the session, the index grows and as you can see in the 30-minute chart below, they are outside the Bollinger bands. The nearest resistance is now broken line of the upward trend running from the Friday’s low. On the other hand, we will find horizontal resistance at 12430, which could not be overcome during yesterday’s session. Effective breaking above the resistance will open the way to the level of 12,500.
Today’s levels of Pivot:
R3 = 12.556
R2 = 12.494
R1 = 12.439
P.P = 12.378
S1 = 12.323
S2 = 12.261
S3 = 12.207