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 25/05/2018
The German DAX on Friday gained 0.65%, however, the whole week is below the line -1.07%, after eight weeks of growth, we have a solstice and the first red candle appears. The business climate indicator for the largest European economy has slowed down, but it is difficult to regard it as a change in the negative trend.
Among the components of the DAX index, the best result was recorded by Vonovia, which gained 2.21% and Merck increased by 1.98%. The worst performers were E.ON, falling only 0.26%. The total number of growing companies exceeded the number of losing listed on the Stock Exchange by 439 to 264, and 85 of them ended the session unchanged.
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Once again on Friday, the level of 13,000 points turned out to be an unbreakable barrier and the market corrected to the level of the price gap (particularly well visible on the spot market). In the direct vicinity, there was also a monthly pivot level, which is gaining importance (12,890).
Today, the stock prices start from a higher level and the target is already resistance at 13,000 points and a daily R1 pivot. After breaking this level, the market is able to reach 13 075 points, the direction point remains at 12 930.
From a broader perspective, it should be noted that the upward trend line has been broken and the DAX is currently making a return move, the 13,045 level will be important here. On the other hand, the bulls are supported by the maintenance of the weekly support zone (green).