Dax daily: 11 Jul 2019

Wednesday's session was interesting too. Dax first started to descend towards our support at 12 326. shortly before this level, bulls took control and the price shot aggressively up. After a prudent upside move, Dax dropped again slowed down significantly. The statistical probability of closing inside the previous day range was also fulfilled successfully. The price opens with an ascending gap today.

Important zones

  • Resistance: 12 500
  • Support: 12 378, 12 328

Statistics for today

Macroeconomic releases

  • United Kingdom - a row of news streaming throughout the London session (ref eco calendar)

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Today's session hypothesis

The initial price action of the session could offer the gap closure and finding some buyers. Should the price descend below yesterday's low and bulls appear around 12 328, then the breakout probability of yesterday's high is not on the table any more. Should bulls prove their strength right at 12 378, then the clear target lays in the form of an untested gap at 12 500. Beware of today's news from the UK and the CPI form the USA. Although this hardly has any effect, a big deviation could bring some volatility for Dax too.