Dax daily: 30 Sep 2019

Friday's session was one big rollercoaster. Our statistic was successfully confirmed yet at the beginning of the session. Just as we wrote, Dax climbed up to retest the resistance zone at 12 390 from where the shift of power was seen and bears took the price down just as fast. Dax retested both of our levels with the exact precision, respecting our levels almost miraculously. The week was then closed near Friday's open.

Important zones

  • Resistance:  12 390
  • Support: 12 256, 12 289

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

The new week started with an ascending gap of 50 points. This kind of gap has a low probability of closing, hence such a hint can be used to aim for a long direction. We still respect the resistance around 12 390 which functioned luxuriously on Friday. If bulls want to aim higher, they have to fight this level first. Should such a scenario happen, it is very likely that Dax might head up to retest the 12 470 level which is now a weaker resistance zone.

 

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