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 20/04/2018
During the Friday session, the German market closed in red, the drop was 0.21% and in case of Wall Street, the declines were even higher, thus it can be seen that the European markets are relatively stronger. During the whole week, DAX gained 0.80%, almost all growth was achieved on Tuesday’s session, the minimum of which now provides strong support.
Among the components of the DAX index, the best result was recorded by Adidas, which gained 0.81% and BASF increased by 0.72%. The worst result fell to RWE by falling 2.33%, and Infineon Technologies was below 1.49%.
Naga Markets is an investment company licensed by CySEC, offering access to SwipeStox, a social app for traders, where they can share their trading ideas about Forex, stock indices and CFD’s thanks to simple professional investors’ transaction mirroring.
DAX Intraday
Quotations are in the bearish channel, reflecting from the upper or lower limit. During today’s session opening, the buyers tried to overcome the resistance, but this art failed and the rate was back in the middle of the channel.
Quite a strong point of reference is the level of 12,500 which was tested on Friday. It is a monthly pivot, which recently served as a support, its loss will encourage the continuation of the sell-off.
Looking more broadly, the price remains trapped in the EMA and SMA 200 moving average bands, longer stop at the maximum of movement will suggest an upward stroke, although this is a less probable scenario.
