Yesterday's session started with another sell-off and market participants closed the gap and retested the support at 12 494. The price then bounced back up but buyers were not strong enough to take Dax higher. The session closed at its daily low, right at the support zone of 12 494.
Important zones
Resistance: 12 494
Support: 12 151
Statistics for today
Detailed statistics in the Statistical Application
The gap is sized 217 points with low closing probability
Macroeconomic releases
NIL
Today's session hypothesis
Dax opens the session with 217 points sized descending gap. It is apparent that yesterday's bearish day sparked the downside momentum, propelled by the FOMC. After two weeks of growth, it is now clear the bullish trend ended. Dax is now priced 12 300 and the support of 12 151 is in the near vicinity and this is the first interesting S/R zone to take into account. As the resistance, we can mark the 12494 zone which is yesterday's support and the closing price of the session. The statistical probability of retesting this area today is low, yet this scenario can actually happen.
Important zones
Resistance: 12 494
Support: 12 151
Statistics for today
Detailed statistics in the Statistical Application
The gap is sized 217 points with low closing probability
Macroeconomic releases
NIL
Today's session hypothesis
Dax opens the session with 217 points sized descending gap. It is apparent that yesterday's bearish day sparked the downside momentum, propelled by the FOMC. After two weeks of growth, it is now clear the bullish trend ended. Dax is now priced 12 300 and the support of 12 151 is in the near vicinity and this is the first interesting S/R zone to take into account. As the resistance, we can mark the 12494 zone which is yesterday's support and the closing price of the session. The statistical probability of retesting this area today is low, yet this scenario can actually happen.