Dax daily: 27 Jul 2020
As expected, Friday's session started with a descend towards the S/R zone at 12 882. Bearish traders pushed even lower and the support didn't hold their strengths. The VPOC has also shifted below this zone and this can signify the lack of commitment for further longs and the end of uptrend of the past days.
Important zones
Resistance: 13 119, 12 882
Support: 12 592
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
NIL
Today's session hypothesis
Monday sessions are statistically slowest for the German stock index. For today, we don't see otherwise and expect the trading activity to be limited around 12 882 level. Bounce away from 12 882 to the downside can cause a sell-off, but considering the consolidation price action around these levels, we don't expect any wild moves here.
Important zones
Resistance: 13 119, 12 882
Support: 12 592
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
NIL
Today's session hypothesis
Monday sessions are statistically slowest for the German stock index. For today, we don't see otherwise and expect the trading activity to be limited around 12 882 level. Bounce away from 12 882 to the downside can cause a sell-off, but considering the consolidation price action around these levels, we don't expect any wild moves here.
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