Dax daily: 04 Jun 2020

Dax registered another fully bullish day. From the beginning till the end, the session was dominated by buyers, taking the price as high as 12 563. There was no correction whatsoever and the orders volume shifted to higher levels.

Important zones

  • Resistance: 12 592
  • Support: 12 151

Statistics for today

Macroeconomic releases

  • 13:45 CEST - ECB Main Refinancing Rate

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Today's session hypothesis

Today's session opens with a descending gap and Dax is low on volatility so far. The retest of 12 592 is on the table as this is also the price action level from March 2020. If we are to see a much-needed correction, it'd be most probably from the area around that level. We don't anticipate descend below 12 151 or lower.

 

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