Dax daily: 02 Apr 2020

Yesterday's session started slowly and Dax was indecisive about the direction. After a few hours, the price descended to the support zone of 9 469 which functioned nicely to repel sellers at first. Another retest turned into a breakout as we predicted and Dax dropped to 9 300. Surprisingly, today's gap recovered the fall.

Important zones

  • Resistance: 10 270
  • Support: 9 269

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

Dax opened the day with an ascending gap at the fair value level from yesterday. Market participants returned to the area with the largest orders volume. Dax can remain around this level unless we see a driver for a clear horizontal push. 9 469 still supports buyers. If we look at the volume profile of yesterday, the prices below the support level have a relatively low volume of orders compared to the main distribution.

 

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