Dax daily: 29 Nov 2019

As expected, yesterday's volatility due to Thanksgiving has been dramatically reduced. Initially, Dax slowly descended towards 13 207 but then no clear direction was seen and Dax just went sideways. Nothing interesting really.

Important zones

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

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of Breakout of both High and Low is only 7%.

Macroeconomic releases

  • NIL

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Today's session hypothesis

For today's price estimation, we'll take advantage of our Statistical application as we're getting hints also from the previous extremes. Our probabilities for breaking both high and low of the previous day are very narrow with only 7% chance. For this reason, we're more inclined to favour a bearish bias, while targeting 13 130 being the nearest support zone. However, the majority of market participants still enjoy Thanksgiving break and it's Friday so once again, we expect a lazy price action.

 

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