Dax daily: 23 Jan 2020

Wednesday's session was, compared to previous days, fully in charge of sellers. As we anticipated, they managed to close the gap from the all-time high and reached our support level of 13 522 and even lower. Thi price didn't stay up for too long and Dax is now safely back in the range.

Important zones

  • Resistance: 13 550
  • Support: 13 522

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of breaking yesterday's high is very low

Macroeconomic releases

  • 13:45 CET - Eurozone - Main Refinancing Rate, Monetary Policy Statement
  • 14:30 CET - ECB Press Conference

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Today's session hypothesis

The statistical analysis suggests very clearly that breaking yesterday's high is the least probable scenario. If we were to target longs, definitely not to that high. We're rather inclined to close the morning descending gap and target the resistance at 13 550, which was also the most traded level as per the volume orders. The chance of 67% for the gap close is favourable for bulls too.

 

 

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