Dax daily: 05 Nov 2019

Remember, remember! The fifth of November... After a long time, Monday's price action took its own destiny, not respecting any zones we highlighted and not retracing either. The bullish momentum was very strong right from the beginning of the session and the weekend gap was left unclosed. Dax closed near it's intraday high and today's gap has just been closed as we write this.

Important zones

  • Resistance:  13 202
  • Support: 12 968, 12 944, 13 086

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of breaking yesterday's high is 87%

Macroeconomic releases

  • 16:00 CET - USA - ISM Non-Manufacturing PMI

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Today's session hypothesis

For today, we have an increased statistical probability of breaking yesterday's high. We'll be closely monitoring the support level at 13 086 or even higher at 13 125 expecting buyers to step in. Should the current price action suggest the bullish powers, we'll go with the trend and have the statistics in our favour. The target for long positions is the swing high from 20 May 2018 levelled at 13 200.

 

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