Dax daily: 21 Oct 2019

As expected, Friday's Price Action didn't take any clear direction and Dax was oscillating sideways. The zone of 12 676 functioned as a perfect resistance and it's almost unbelievable how the support at 12 598 repelled sellers and kept all traders withing the S/R bands. Towards the session end, Dax recovered slightly to close at 12 650.

Important zones

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

Statistics for today

Macroeconomic releases

  • NIL

Can you pass our Trading Objectives to receive money for Forex trading? Try our Free Trial to get started.

Today's session hypothesis

The statistical application doesn't give many hints for today as Friday's session just went sideways without giving any new information. Both S/R zones functioned perfectly and it is now important to observe the price development near these areas. It appears as another bullish attempt after the bounce off 12 598, yet this has to be confirmed by the 12 676 breakout.

 

Why to trade DAX on CFDs? Check out this article about the benefits and disadvantages of this topic.