Dax daily: 13 Jan 2020

Friday's session started with a slow sell. The gap was closed and the price bounced back up from the previous volume point of control (VPOC). Dax managed to get above 13 522 but further longs were replaced by selling traders after disappointing NFP reading.

Important zones

  • Resistance:  13 522
  • Support: 13 386

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of breaking Friday's high is very narrow

Macroeconomic releases

  • NIL

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Today's session hypothesis

Dax opened the week with an ascending gap, yet within the range of the previous session. We have an interesting hypothesis to look at. We'd look for the gap closure, but the statistical probabilities aren't inclined to this scenario. However, the ideas for sell-offs is supported by a good chance to break through Friday's low. Where to look for an entry? We'd favour the level around 13 522 as it's marked as the resistance zone and also Friday's VPOC. These sorts of hints tend to be a powerful S/R levels with generally good success.

 

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