Dax daily: 03 Oct 2019

What a drop! Another one! After those kinds of days like we've seen on Tuesday, there are normally sessions where the price consolidates in a narrow range. This wasn't the case this time as Dax fell rapidly yet again and the entire intraday session was characterized as one big bearish day. No support level functioned which is quite rare and the price closed at it's low. Today, we open with a descending gap and yesterday's low has already been broken.

Important zones

  • Resistance:  12 124, 12 013
  • Support: 11 866, 11 768

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of breaking yesterday's low is 96%

Macroeconomic releases

  • 09:15 - 10:00 CEST - Eurozone PMIs
  • Bank holiday in Germany - yet DAX is open

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Today's session hypothesis

Today, we have a very similar plan to the one of yesterday so we expect a slowdown and respecting the mentioned zones. The main statistics for breaking yesterday's low has already been fulfilled. There is a public holiday in Germany today and except of DAX and other few assets, the trading at EUREX market is closed. Be on the look for the Eurozone Services PMI reports which often serve as a catalyst for some increased volatility.

 

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