Thursday’s session has been considerably more active compared to the previous day. Dax first headed straight up without stopping at our first resistance zone. The second level of resistance laying at 12 194 functioned perfectly and the price even formed an intra-day high there. Following was a bounce back to our first level, now being a support zone where we found some buyers taking the price slightly up again. Today we open with the gap being already closed.
- Resistance: 12 264
- Support: 12 121, 12 054
Statistics for today
- Detailed statistics in the Statistical Application
Today’s session hypothesis
Today, we hope to descend towards 12 121 just to get buyers to take the price higher. In case Dax gets below 12 121, it is more likely the price will slow down in the consolidation area from Wednesday. If bulls are strong, then the first target is the swing high from 11 Jun, followed by a retest of the resistance level at 12 264.