Dax daily: 17 Jul 2019

Tuesday's session could be characterized as a lazy and boring one for most of its duration. Dax started by closing the gap, followed by the entry of sellers who took the price down to the support level at 12 350. This zone functioned perfectly and the price bounced as expected. There was even an intra-day low formed there.

Dax opened with a descending gap this morning, which is already closed at the time we write this.

Important zones

  • Resistance: 12494, trend line
  • Support: 12 339

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

If we disregard the Monday's rocket move, Dax is relatively slow from the beginning of the summer holiday. For today, we have three zones nearby which could play some importance in the price action. On the long side, we see a resistance at 12 494. If we find sellers at the trend-line, it is likely the price will slow down inside yesterday's session range.