DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 29.06.2017
Markets are so dependent on central bank monetary policy that they do not believe in the explanation of Mario Draghi, who supposedly did not want to suggest a departure from the loose monetary policy of the ECB, as we wrote more in yesterday’s comment. Had it really been, it is only Mario Draghi himself knows. The effect is that yesterday we had the second strong correction on the stock markets this week.
In the United States, the technology companies that have long been said to be heavily overvalued are going down fast. It even compares the current bubble situation to the beginning of the millennium when the so-called dot.com companies enjoyed enormous popularity, and their share price went up several hundred percent in a short time. Of course, after the bubble burst the NASDAQ 100 index of around 5000 points dropped below 1000 points, and history likes to repeat, as technical analysts know very well.
Today, the Nikkei index ended the day with -0.92%. Yesterday, the S&P 500 also closed down 0.86%, the NASDAQ 100 fell 1.74%. DAX was down 1.83. The German index set a new record around 12951 points. However, he has not been able to stay on this level for too long. Yesterday the index fell sharply in the support area of 12400 points. A descent below this barrier will open the way to 12200 points. The nearest level of resistance is 12600 points.
DAX Intraday
After opening the futures market, the DAX index rebounded from the level of 12400 points. And heading for pivot point around 12500 pts. Descent below 12400 points it will open the way to S1 near 12260 points.
Key data for the DAX index
No key data
