Dax daily: 02 Jul 2019

The resistance zone at 12 601 we mentioned yesterday turned out to function perfectly:

After retesting the 12 601 level, Dax went sloping down. The weekend gap has been filled from it's third only and today the price opens without a gap.

Important zones

  • Resistance: NIL
  • Support: 12 385, 12 428, 12 508

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

There are quite a few support zones today, yet no resistance. The magnet on the lower prices is still 12 385. On the way down, buyers could enter around 12 428 and 12 385. The support zone at 12 508 could function as a bumper to head for further higher levels. At 12 428, we might see a correction, whereas the 12 385 level might function as a reversal signal. Thanks to a good distance towards 12 385, this hypothesis can be a multiple-day plan.