We welcome all to a mid-week analysis. The support level at 12 191 we mentioned yesterday functioned perfectly as this was retested right after the open. Contrary, the resistance zone of 12 230 didn't have much significance. Dax found some bearish pressures at a higher price of 12 266 and following was a downside move to a very near intra-day low.
Important zones
Resistance: 12 282 Support: 12 120, 12 049
Statistics for today
Detailed statistics in the Statistical Application The statistical probability for breaking yesterday's low is 83%
Macroeconomic releases
NIL
Today's session hypothesis
For today, our major key for establishing the price projection is the high statistical probability for the breakout of yesterday's low. Hence all sell positions have a clearly defined target. Another target to keep an eye on is the support level around 12 120 where we hope to find some buyers.