Dax daily: 25 Nov 2019

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.

Important zones

  • Resistance:  13 297
  • Support: 13 000, 13 130

Statistics for today

Macroeconomic releases

  • NIL

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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.

 

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