During the past week, Dax attempted to break lower from the consolidation range of 13 130 - 13 300. It appeared the inevitable correction was about to happen, but the sell-outs didn't actually happen. There was a breakout to the downside, yet the price corrected its drop and returned to the range. On Friday, the price at 13 130 was confirmed as a support zone and the price bounced back to a balanced level at 13 207. On Friday, we've had a strong bullish bias as the statistics suggested the breakout above the previous day's high and this happened to the point, giving us great profits.
- Resistance: 13 297
- Support: 13 000, 13 130
Statistics for today
- Detailed statistics in the Statistical Application
Today's session hypothesis
The price opened the week with a gap sized 60 points. The probability of the closure is low, yet we could look at the lower prices. The price oscillates around 13 207 which functions as a magnet these days. If we don't see any aggressive bullish momentum, we estimate a slow descend towards this price.