Dax daily: 22 May 2019

Yesterday’s session ended more or less according to our expectations. We opened with a rising gap, which had a low probability of being closed. The Gap was not closed and so, our target was at 12146. The market reached this level and price stayed in this region for the rest of the day. It is clear that this region acted as a resistance.

Important zones

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

Statistics for today

Macroeconomic releases

  • NIL

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Today’s session hypothesis

Today, we open with another gap with the size of 20 points, which is very common. Such a gap was closed 69% of the time according to our historic data. Today, we expect a close of the gap and a test of our resistance marked in the red region. If buyers aren’t strong enough and do not break the resistance, we’d expect a chop in the region between 12034 – 12146. Otherwise, we expect another test of higher prices.