Dax daily: 20 May 2019

Friday’s session hasn’t really seen much success from the statistical point of view. There were increased probabilities for breaking of Thursday’s high and two support levels nearby to add to the hypothesis. Dax turned downhill on a very lazy pace, buyers reacted with a very slight correction at the first mentioned support level and the second support level hasn’t even been reached. In the end, the session turned out to be a lazy bear, as it often is on Fridays. Today we open with a small ascending gap.

Important zones

  • Resistance: 12 376
  • Support: 12 196, 12 118

Statistics for today

Macroeconomic releases

  • NIL

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Today’s session hypothesis

We anticipate continuing in the uptrend that has formed. Dax already filled our first target, which was a retest of 12 190 level. In the upcoming days, we estimate that the zone laying at 12 448 could be retested as well. Buyers could be found around the support zone of 12 196 where we have a nice confluence with the trendline, or even lower at the support at 12 118. Sellers could show their strengths at 12 376.