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 21/12/2017
German DAX index ended yesterday’s session in moderately good moods, stopping further sell-off and gained 0.31%. Similarly, the situation before Christmas looks in the US, where the SP500 again approached the barrier of 2,700 points.
Among the components of the index, the best result was recorded by Fresenius SE, which gained 1.60%. Meanwhile, Bayerische Motoren Werke (BMW) increased by 1.05%. The worst performers were RWE falling 1.56% and Vonovia SE.
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DAX Intraday
Yesterday’s session was an important moment on stock, because it stopped the decline of the index, but it is difficult to say whether this stop will prove to be a good moment to buy. The first minutes of the Friday session look neutral, after 9:00 the price is trying to break above the pivot point (DP), which gives us a chance to return to the area 13,130.
DAX Longterm
In broader perspective, the index remains below the December pivot, which means that every attempt to approach from the bottom after 13,308 should end with the inflow of sales offers, additionally the price has broken down from the local trend channel. What’s positive, we can see that the level of 61.8% Fibo from the low to the high in December was maintained and the proximity of long-term support.