Dax daily: 12 Aug 2019

The last session of the previous week did not offer something really interesting. Our support at 11 716 did not work as a point of reflection, but rather as a place where the market slowed down for several hours. Today we are opening with a long gap.

Important zones

  • Resistance:  11 899, 12 031
  • Support: trend line

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

We have an increased probability of 57% to close the gap, for this reason we can expect a slight short move towards the trend line where we could find buyers and head towards 11 899. If we break through the Friday's low, the hypothesis of the test 11 899 will not be valid anymore, rather we can expect chop in the Friday's range.

 

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