Dax daily: 16 May 2019

Yesterday's session corresponded with our analysis. After the open, Dax began to descend towards the support at 12 946 where we haven't encountered any buyers and the price continued lower. Later in the NY session, Dax unexpectedly jumped up and today we open with a descending gap.

Important zones

  • Resistance: 12 097, 12 190
  • Support: 11 917

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of breaking yesterday's high is 83%

Macroeconomic releases

  • 10:15 CEST - German Buba President Weidmann Speaks
  • All day - Eurogroup Meetings

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Today's session hypothesis

Today, we estimate that the gap could be closed and find some sellers around the resistance zone of 12 097 for a possible correction. However, the probabilities today are more inclined to a buyers favour who could take the price all the way towards 12 190.