Monday’s session has seen no success, mainly due to the fact Dax hasn’t moved anywhere and the price was just ranging in a narrow band of 70 points. We haven’t even seen the retest of Friday’s high or low. Today, Dax opens with a small gap which is already closed.

Important zones

Resistance: 12 148
Support: 11 987

Statistics for today

Detailed statistics in the Statistical Application

Macroeconomic releases

11:00 CEST – German ZEW Economic Sentiment

Today’s session hypothesis

Due to the fact the price hasn’t gone anywhere yesterday, our hypothesis will remain intact. Just as yesterday, 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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