Dax daily: 25 Sep 2019

Tuesday's price action didn't respect our zones much, yet the statistics as we mentioned were fulfilled to our satisfaction. The resistance level hasn't even been retested and the support at 12 322 attracted buyers for only a short correction. As soon as this support level was compromised, Dax fell sharply and closed near its daily low. Today, we open with an ascending gap.

Important zones

  • Resistance:  12 389, 12 296, 12 332
  • Support: 12 031

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of breaking yesterday's low is 83%

Macroeconomic releases

  • NIL

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Today's session hypothesis

For today, we'll use the statistical advantage again. We have a high statistical probability for breaking yesterday's low, yet this doesn't necessarily mean that the price will go there right away. To start the bearish action, there is an attractive zone around 12 332. We also need to monitor the price development around 12 296. Should Dax take the downward direction, the first support level lays as far as 12 030 which gives enough room to bearish traders.

 

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