Dax daily: 13 Nov 2019

Did we read from the crystal ball? Again? Yesterday's session turned out exactly as we predicted and Dax followed our hypothesis to the point. Even the zones were respected absolutely miraculously. The price initially closed the gap and the level of 13 207 functioned nicely as the support and served as a good level for bulls to take Dax higher. They reached to retest the resistance zone at 13 297, but didn't have much momentum to break this to continue higher.

Important zones

  • Resistance:  13 297
  • Support: 13 207

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

Today we opened with another descending gap. Yesterday's attempt to break to another high was rejected. Dax made a 'fakeout' retest and returned back to the range. The level at 13 297 could now serve well for sellers and we need to observe the price action in that territory. On the other hand, if the support level around 13 207 gets broken, the path towards 13 166 is open.

 

 

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