Friday’s session started by retesting the close price of Thursday. Sellers then entered the market who took the price through the support at 10 942 all the way towards 10 855, which is a lower band of the consolidation area from the mid-January. The overall Friday’s range was 180 points. Today we open with an ascending gap which is already closed.
- Resistance: 11 101
- Support: NIL
Statistics for today
- Detailed statistics in the Statistical Application
- The statistical probability for closing inside Friday’s range is 89%
Today’s session hypothesis
It’s really difficult to estimate today’s direction. We have two clues – one is the 87% probability that Friday’s high or low will be broken, while the second one is the statistical probability of 89% that the price will close inside the Friday’s range. Our targets are clearly defined. Whenever Friday’s high or low gets retested, it’s logical to target trades back to the range.