Dax daily: 20 Jan 2020

Dax didn't make it out of the current consolidation zone we write about the past couple of days. The resistance at 13 522 we highlighted held the price and the VPOC was formed there as well. Dax closed the week on this level.

Important zones

  • Resistance:  13 522
  • Support: 13 386, 13 460

Statistics for today

Macroeconomic releases

  • USA - public holiday - Martin Luther King day

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Today's session hypothesis

Monday session opens near last week's close without any significant weekend gap as we're used to. Due to a public holiday in the US, Dax might also experience reduced volatility, especially in the afternoon session. Friday's session gave us a hint that there is a slight bullish optimism and this was confirmed by the traded volume on higher levels. However, buyers were not strong enough to break above the mentioned resistance. If the price drops lower to 13 460, we'd favour this level as a good pullback for further uptrend.

 

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