Dax daily: 18 Oct 2019

Yesterday's session started with a descending gap, which was closed right away. Later, we saw a battle at 12 676 which was won by bulls. Our resistance level at 12 732 was reached quickly and the new mid-term high was formed at 12 807. What is intriguing is the following quick correction back to the daily range and close pretty much at the open, at 12 647.

Important zones

  • Resistance:  12 676, 12 732
  • Support: 12 483

Statistics for today

Macroeconomic releases

  • All-day - EU Economic Summit

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Today's session hypothesis

The last day of the week was opened with another descending gap. This time, however, with different circumstances. We don't have a gap after a bullish day and the price is back in the consolidation area. We don't expect any further gains today and the zone at 12 676 remains in place as this could serve as the resistance level. We are rather inclined to a slower session sideways or to the downside.


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