Dax daily: 29 Oct 2019

Monday's session turned out a bit odd to what we expected. We were eyeing the scenario of Dax descending towards any of our support levels before climbing up again. However, bullish traders found a quick momentum and took the price to a new mid-term high. Later in the session, sellers corrected the price slightly, but still, Dax closed near its intraday high.

Important zones

  • Resistance:  NIL
  • Support: 12 850, 12 797, 12 908

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

For today, we stick to our bullish bias from the past few days. Dax could descend to retest the support zone at 12 908 where we are likely to find buyers taking the price higher. We also have a statistically higher probability to close the gap and also to close outside of yesterday's session range. Unfortunately, there are no resistance levels are nearby, nor are scheduled any fundamental drivers.

 

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