Dax daily: 15 Oct 2019

As we thought, yesterday's session was very lazy as there was a bank holiday in the US, Canada and Japan. We saw very limited volatility throughout the day and Dax hasn't really taken any clear directional move. Today we open with an ascending gap.

Important zones

  • Resistance:  12 348, 12 481, 12 645
  • Support: 12 598

Statistics for today

Macroeconomic releases

  • 11:00 CEST - German ZEW Economic Sentiment

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Today's session hypothesis

Today we speculate on the initial price decline towards the support at 12 481 where we hope to see some buyers taking Dax higher towards 12 598 which is an interesting zone for a bearish correction. We could also see another day with slower price action and price ranging between those zones. Should Dax head above 12 598, we can understand this level as a next support zone for a bounce towards the higher values, targeting 12 650.

 

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