Dax daily: 15 May 2020

We have correctly predicted another dip. Our support level 10 270 did not work out exactly to the single point, but even so Dax did not manage to keep it's price there for long and went back. It seems that the market wanted to test lower prices and whether there will be interest for trading. It seems that there wasn't. This can mean that we will aim for the direction to 10 999.

Important zones

  • Resistance: 10 530
  • Support: 10 270

Statistics for today

  • Gap close 65%

Macroeconomic releases

Can you pass our Trading Objectives to receive money for Forex trading? Try our Free Trial to get started.

Today's session hypothesis

For today we are using statistics of gap close. From the history it seems, that we have 65 % probability of closing the gap and go in the upward direction. Resistence of 10 523 is just offering itself, but we will see whether we will go for it right away or see some correction first. From yesterday we got a strong assumption, that fall of the Dax price could stop for a while.

 

 

Why to trade DAX on CFDs? Check out this article about the benefits and disadvantages of this topic.