DAX is one of the most popular indices in the world. It is listed on the Frankfurt Stock Exchange. Every day there is a very high volatility which gives many trading opportunities.
Summary session 26.10.2016
The mood on the European stock exchanges is not good. Crude yesterday again was cheaper, although declines were not as significant. Sentiment is also spoiled by the mixed results of European companies.
DAX broke through the support level in the area of 10700 pts which suggests a further decline to the next support area around 10600 points.
Let’s see the situation on the intraday chart M15. The index rebounded from the level of the pivot point in the area of 10700 points. and aims to support around 10,625 points. In addition, on the chart can be seen forming of a engulfing formation.
Key data for DAX
1:30 PM – Initial Jobless Claims in the US