DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 21.11.2017
Tuesday’s session ended with a strong accent, the index scored +0.83%. DAX30 was not afraid of the political turmoil that took place at the beginning of the week and a wave of good moods in the US reached 13,200.
Among the components of the DAX index was Infineon Technologies, which gained 3.29%, while Volkswagen rose 3.02%. The HeidelbergCement fell by 1.94%.
DAX Intraday
Level 13 000 points which I mentioned yesterday was unreachable until yesterday. Bears managed to lower the price by only 40 points, after which the rally to the levels not seen since November 10th began today. The opening was neutral, the quotations remained at the maximum. I expect a test of broken resistance 13 100 this time from above, but the pressure of the buyers may be so high that the level 13 130 will stop the declines.
DAX Longterm
The dynamics of the rebound, in the last few days is at least surprising, the bulls achievement is already 350 points. Still, the formation of the right arm that reverses the trend of Head &Shoulders formation is still possible. The next monthly resistance is only at 13 350.
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