Unfortunately, yesterday's session didn't go according to our expectations. We've had clues for a bearish move and breakout of the previous day low, but Dax proved otherwise. The price was trending upwards with a strong momentum right from the beginning of the session and the resistance at 11 691 played no role too. Dax slowed down later in the afternoon, yet closed in the upper band of its range. Today we open with a descending gap.
Important zones
Resistance: 11 779
Support: 11 667, trend line zone
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
09:15 - 10:00 CEST - Eurozone PMIs
13:30 CEST - ECB Monetary Policy Meeting Accounts
Today's session hypothesis
Currently, the price descends towards the support level of 11 729 and we hope to find buyers there and head towards the closure of the gap. Up at the resistance zone of 11 779 there might be some bearish correction but eventually, bulls are likely to prevail to retest yesterday's high. If that happens, sellers are likely to return back to the range to close inside - this thesis has a statistical probability of 77%.
Important zones
Resistance: 11 779
Support: 11 667, trend line zone
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
09:15 - 10:00 CEST - Eurozone PMIs
13:30 CEST - ECB Monetary Policy Meeting Accounts
Today's session hypothesis
Currently, the price descends towards the support level of 11 729 and we hope to find buyers there and head towards the closure of the gap. Up at the resistance zone of 11 779 there might be some bearish correction but eventually, bulls are likely to prevail to retest yesterday's high. If that happens, sellers are likely to return back to the range to close inside - this thesis has a statistical probability of 77%.