Dax daily: 09 Jan 2019

Tuesday’s session was relatively calm. It was just a pity that Dax hasn’t dropped fully to the support zone of 10 718 at the beginning of the session. Buyers appeared a bit sooner than anticipated and took the price towards the resistance at 10 891 which played out well.

Dax has then closed approximately in the middle of the intraday range. Today, the price opens with a significant ascending gap.

Important zones

  • Resistance: 11 188, 11 142, 11 010
  • Support: 10 835

Statistics for today

Macroeconomic releases

  • Canadian interest rate decision and US FOMC minutes. Nothing specific to DAX though.

Today’s session hypothesis

Bulls have a clear target ahead of them – first 10 982 – high swing and then the expected attack to 11 142 in the upcoming days. On the way there, we have a resistance zone at 11 010 where some bears take over. Then we can expect a slowdown in the consolidation area around 10 881 – 10 912. If the session starts with a price fall, then the target is a gap + support at 10 835 where we could expect some bullish pressures.