Yesterday, we've had a higher probability of 83% for breaking the previous day low. Although the odds were in our favour, the breakout of Tuesday's low didn't happen. Instead, Dax shot straight up and we've only found some sellers at the mentioned resistance zone of 12 282. Today, the price opens with an ascending gap.
Important zones
Resistance: 12 44
Support: 12 229, 12 191
Statistics for today
Detailed statistics in the Statistical Application
The statistical probability for closing inside yesterday's range is 87%
Macroeconomic releases
NIL
Today's session hypothesis
For today, our chances are pretty balanced from the Price Action perspective. One thesis suggests finding buyers and head to a resistance level of 12 344, where the shift of powers could happen and the price to return to yesterday's range. On the other hand, we have a pretty similar scenario where sellers could push the price lower to reach the support level of 12 229, where the price is likely to bounce from that zone and retest the 12 344. Should the price reach all the way towards 12 191 and the market participants losing momentum, it is likely Dax would rather slow down.
Important zones
Resistance: 12 44
Support: 12 229, 12 191
Statistics for today
Detailed statistics in the Statistical Application
The statistical probability for closing inside yesterday's range is 87%
Macroeconomic releases
NIL
Today's session hypothesis
For today, our chances are pretty balanced from the Price Action perspective. One thesis suggests finding buyers and head to a resistance level of 12 344, where the shift of powers could happen and the price to return to yesterday's range. On the other hand, we have a pretty similar scenario where sellers could push the price lower to reach the support level of 12 229, where the price is likely to bounce from that zone and retest the 12 344. Should the price reach all the way towards 12 191 and the market participants losing momentum, it is likely Dax would rather slow down.