Dax daily: 05 Feb 2019

The Monday session was, from our point of view, rather difficult to trade. Dax very often set off in one direction to turn around swiftly. On a 30 minute chart, yesterday’s session looks like a nice “V”. Dax eventually closed close to its peak and the total daily range yesterday was averaging 117 points.

Important zones

  • Resistance: NIL
  • Support: 11 121

Statistics for today

  • Detailed statistics in the Statistical Application.
  • The statistical probability of breaking Monday’s high is 83%.

Macroeconomic releases

  • NIL

Today’s session hypothesis

So today, despite the already tested support at 11 121, we do not have any interesting zones again. European PMI reports are to be announced, and we also trade in a highly concentrated area of last week. We have a very high probability of breaking yesterday’s high at 11 206, so all the long trades have a clear target. If the buyers were aggressive, we can expect a re-test of high from 31 Jan. Yesterday’s high at 11 206 could serve as a support zone after the break.