Dax daily: 16 Jul 2019 Monday's session started wild and many traders were facing problems with unexpected volatility. Dax first spiked upwards quite prudently, just to correct itself soon after. If you remember, we suggested not to trade yesterday as the price development was unpredictable. Good to those who took a break. Dax also broke both Friday's low and high, which had a very low probability. Today we open with a smaller descending gap.
Important zones
Resistance: 12494
Support: 12 350
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
11:00 CEST - German ZEW Economic sentiment
Today's session hypothesis
Today we can expect the breakout of yesterday's high, which has a slightly increased statistical probability of 64% and then we'll await the retest of resistance zone at 12 494 and closing outside of yesterday's range. We hope to find buyers around 12 350 which is an intraday support level from yesterday. Should the price break yesterday's high and return right into a Monday's range, it is likely Dax will slow down and oscillate.
