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 29/01/2018
Monday’s session on the German trading floor did not bring any conclusions, the index fell by 0.12%, but today from the morning the bearish gap is an issue of concern in the bulls camp. The first signal gave the SP500, which lost nearly 20 points in the Asian session, the drop looks interesting in the context of the ending of a “very good” month for share holders.
Among the components of the DAX index, the best result was recorded by RWE which gained 0.54% and Deutsche Lufthansa increased by 0.52%. The worst result was that Commerzbank AG dropped 2.06% and HeidelbergCement lost 1.33%.
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In the morning, the DAX index opens in the vicinity of support S2, which at the beginning means breaking out of the volatility threshold, it is a reaction to declines in the US and the Nikkei index. On the other hand, the falling Eurodolar may support indices at least in the short-term.
A few minutes after 9:00 AM DAX goes to the daily maximum, the first barrier will be yesterday’s “low” 13 265 and DP balance point – 13 310. It is also worth noting that the morning falls activated the downside break out from the Shark32 (D1) formation, and from major events today we still have the speech of President Trump.