Yet another session without a gap. Sellers attempted to retest prices from the last week, yet to no avail. It was just around 12 475 when Dax turned around from its slight downward correction and eventually closed where it opened the daily session.
- Resistance: 12 600
- Support: 12 391, 12 428
Statistics for today
- Detailed statistics in the Statistical Application
- The statistical probability of breaking yesterday's high is 83%
- 09:15 - 10:00 CEST - Eurozone PMIs
Today's session hypothesis
We'll base our today's analysis on the fact we have a higher statistical probability of breaking yesterday's high. Thanks to yesterday's close, the odds incline the price might go higher, beyond yesterday's high. Our statistical application indicates that such situation happened in 83% of historical occurrences. This is a strong indication that plays for bull traders. Should this scenario happen, we estimate that 12 600 could be targeted as well. If not, the price decline towards 12 475 or even lower towards 12 428 is likely in a reverse situation.