Welcome to a new trading week. Friday’s session turned out exactly as expected. From the beginning of the session, Dax went through our first support level at 12 121 to retest the second support level laying at 12 054 where the price bounced and even formed a daily low there. Later on, Dax slowed down in the consolidation area from Wednesday and we even closed in this range.

Important zones
  • Resistance: 12 148
  • Support: 11 987

Statistics for today
  • Detailed statistics in the Statistical Application

Macroeconomic releases
  • 19:00 CEST – ECB President Draghi Speaks
Today’s session hypothesis

The gap has already been closed so we’re short of one daily target. If we find bearish momentum, the price could head lower to retest the weaker support at 11 987. Talking about higher levels, there is one weaker resistance level at 12 148, however, if the price gets all the way there, it is likely Dax will retest the Friday’s high and the zone of 12 200. - funding for serious traders
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