Dax daily: 21 May 2019

After closing the gap yesterday, we saw yet another strong selling. Bears dominated till the session end and bulls had no chance whatsoever. The session closed at 12 034 which is now an interesting support level.

Important zones

  • Resistance: 12 146
  • Support: 12 034, 11 958

Statistics for today

Macroeconomic releases

  • NIL

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Today’s session hypothesis

The price is currently hovering in the middle of the range marked by our zones 12 146 and 12 034. After the open, we haven’t seen any significant move so far and today’s statistics are not even inclined towards the gap closure. On the other hand, the zone laying at 12 146 looks very appealing from the price action perspective and we could retest this level. Our major target right now is the price at 12 146. If Dax heads south, we estimate the price may stall around 12 034 which could now serve as a support level.