DAX is one of the most popular indexes in the world. It is listed on Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 25.04.2017
Investors on the stock markets discount Macron’s victory on Monday in the first round of presidential elections in France. For now, good moods should remain on capital markets unless there is some unexpected information regarding North Korea or Syria. After a strong rise of European indices Tuesday brought a slight calmer mood. The DAX index rose 0.1% and CAC 40 0.17%. The situation was better in the USA and Japan. The S&P 500 index rose 0.61% and Nikkei 1.1%.
DAX index is staying above 12400 points, which is currently a support level. Today we can observe a slight correction, which is nothing uncommon after such a strong upward movement. Some investors may want to book profit, especially before the ECB meeting tomorrow.
DAX Intraday
DAX Index broke pivot point around 12470 points after opening of the session, and after a bullish correction a falling star formation occurred, which may suggest a move towards support S1 near 12425 points. In turn, breaking from bottom pivot point and today’s highs of 12485 pts. should open the way to R1 resistance around 12510 pts.
