Dax daily: 11 Jun 2019

Yesterday, we expected a retest of 12 139 and the drop towards the trend line. Dax did not reach all the way towards the resistance zone, but the return to 12 046 level worked well. The market met both of our indications - the support zone of 12 046 and the trend line. Bulls were not strong enough in the afternoon session and the price closed slightly negative at 12 084.

Important zones

  • Resistance: 12 139
  • Support: 12 046

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

The price opened with an ascending gap sized 50 points, right at the mentioned resistance level. The statistical probabilities incline the gap closure is unlikely for today's session and this indicates a bullish bias. Should the uptrend be formed and confirmed, we estimate the price is to reach 12 207 level.