This is the last analysis of the week. As expected, Dax initially declined yesterday and closed the gap. Buyers entered at our support but didn't last long. After some 35 points, buyers were overpowered by sellers again. Following was a retest of 12 328 level which was broken out by some 16 points before buyers flexed their muscles. Today we open with an ascending gap, which is already closed at the time we write this.
- Resistance: 12 500
- Support: 12 291
Statistics for today
- Detailed statistics in the Statistical Application
Today's session hypothesis
After today's open, Dax started its downward momentum quite strongly. The first hour already has a range of some 60 points, which is unusual. Beware of some trend reversal signals. We have a nice support zone a 12 290 where we might find some buyers. In any way, it's better to be less aggressive in the long direction today.