Dax daily: 06 Nov 2019

Dax was dead yesterday! Completely lazy, oscillating in a narrow range, sideways. Neither Monday's high or low was broken and the first trading hour predefined the range for the entire day, which was just 60 points, while a regular average is 110 points.

Important zones

  • Resistance:  13 143
  • Support: 12 968, 12 944, 13 086

Statistics for today

Macroeconomic releases

  • 09:15 - 10:00 CET - Eurozone Services PMIs

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Today's session hypothesis

For the fact that Dax hasn't done anything yesterday, our today's estimation remains unchanged. The only difference is that we'll be looking for buyers at around 13 143. The bullish target lays up at the high swing from 20 May 2018 at 13 200. Another zone of interest for buyers might be the support zone around 13 086. According to a market structure, today's price action might actually resemble yesterday's scenario, unless driven by fundamentals such as today's PMI reports from the Eurozone.

 

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