Dax daily: 08 Aug 2019

Yesterday's session didn't offer any excitement exactly as we thought. What is important is that our resistance level at 11 702 functioned pretty well. Dax also broke neither low nor high of previous day range and this was corresponding with a very low statistical probability given by our application. Today we open with a significant ascending gap.

Important zones

  • Resistance:  11 901
  • Support: 11 716

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

Does it look like another calm session? It seems to be, yet it's important to bear in mind that markets are always unpredictable and anything can happen. We could see the initial move to the downside to retest yesterday's close and close the gap too. Buyers might appear around 11 716 and lift the price towards 11 901. Should Dax descend below 11 716, we might see a slow down of the price action and close inside yesterday's range.

 

 

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