Dax daily: 14 Feb 2020

Thursday's session was initially dominated by sellers who managed to get Dax lower below 13 627 which was our support level. Shortly after the breakout, the powers shifted in bullish favour. They reversed the initial correction and close the session in green numbers. The orders volume shifted lower which can signify the price to stall below the recent highs.

Important zones

  • Resistance: NIL
  • Support: 13 550

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of breaking yesterday's low stands at 7% only

Macroeconomic releases

  • NIL

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Today's session hypothesis

We have quite interesting statistics about the extremes breakout. The statistical application suggests there is only a 7% chance for breaking yesterday's low, meaning the price should not descend below 13 572. This can be understood as positive news for buyers, yet it doesn't mean Dax needs to go even higher. Contrary, the volume orders and ascend tempo slow down speak otherwise. We estimate a descend to 13 690 at least.

 

 

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