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 28/06/2018

Thursday’s session brought a drop of 1.39% and the range was similar to the previous one. DAX tested the level of 12 100 points for the second time. The CPI inflation rate m/m was slightly lower than expected (0.1% vs. 0.2%), while the Gfk consumer climate remained onunchanged high level. The EU Economic Summit is underway at which the central bank warned yesterday that the risk for global activity may be significant due to increased protectionism.

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Among the components of the DAX index, the best result was recorded by Commerzbank AG, which gained 0.66% and RWE increased by 0.34%. The worst result was Infineon Technologies, dropping as much as 4.23%, while Adidas lost 2.70%. DAX Volatility, which measures the implied volatility of DAX options, rose 6.69%, reaching a new 1-month high.

DAX Intraday

Again, on DAX the level 12,120 returned to the game, which is the monthly pivot, which effectively defended access to ever lower levels. Currently, on the Friday trading session, DAX begun over the directional point (12,220), the positive sentiment has been maintained, helps rebound on Wall Street and the rebound from the key level on the SP500 – 2,700 points. The first local resistance at 12,350 points, slightly above 12,375, support is the already the mentioned 12,220 and the opening gap.

Today, the last session of the month and the same of quarter, and thus the phenomenon of “window dressing” or raising valuations of financial instruments is likely. Interestingly, the DAX index has not gained almost at all since the end of March and is on the level from almost three months ago, despite the spring rally. The old stock market maxim “Sell in may …” has so far proven itself.


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