Yesterday's session really turned out positive for bullish traders. Dax closed nicely at new high levelled at 13 573. The only flaw we see in this situation is today's gap opening.
- Resistance: 13 573
- Support: 13 386
Statistics for today
- Detailed statistics in the Statistical Application
- 11:00 CET - German ZEW Economic Sentiment
Today's session hypothesis
Tuesday's analysis is complicated due to an unusual overnight drop and opening with a descending gap. The size of 110 points is very unusual and we don't have statistics for such a big stretch. Just as the other statistics such as the extremes breakout are now invalid. Yesterday's Price Action clearly confirmed a bullish sentiment, yet the gap proves otherwise and we can only understand this as the risk mode shift. If today's gap gets closed, that will signal risk-on and positive sentiment for further longs in the upcoming days. If not, the price is likely to oscillate in the 13 386 - 13 460 range. Keep an eye on today's ZEW release.