Dax daily: 09 Aug 2019

The session yesterday started with an ascending gap which was closed yet in the morning trading hours. Sellers took Dax to retest the support level at 11 716 where we saw a power shift and buyers regained control of the further price development. The session was closed at 11 823.

Important zones

  • Resistance:  11 901
  • Support: 11 716

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

Another gap opening but with a different situation today. It was quite probable yesterday that the gap was to be closed, just as we highlighted. Price opened above previous day's range and gap was at a strong S/R zone which was likely to be retested. Today we open in the middle of yesterday's session and it's not clearly defined who has the advantage. The statistical application indicates a 50% probability which is another undecisive information for a price estimate. We are left to wait for the price action and follow the mood of the market. We estimate today's trading ranging between 11 716 and 11 901.

 

 

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