Dax daily: 11 Nov 2019

Welcome to this new week Dax analysis. The market opened with a huge descending gap sized 87 points at the price level of 13 170. Such a gap doesn't happen often and the closing probability is relatively small. More statistical details can be found in our Statistical application. If we look back on Friday's session, the support zone of 13 207 functioned quite nice and this could now serve as the resistance level.

Important zones

  • Resistance:  13 297
  • Support: 13 207, 13 166

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

After a prudent gap correction, Dax is now trading below the level of the past two day sessions. The price returned towards 13 170 and it appears it could actually continue lower. We expect that if the price doesn't get towards the gap closure, we are likely to trade in the consolidation area around 13 127. Should this turn valid, Dax is likely to slow down and oscillate sideways in wider bands.

 

Why to trade DAX on CFDs? Check out this article about the benefits and disadvantages of this topic.