DAX daily: 10 Dec 2018

Friday's session started relatively slowly when the price oscillated in Thursday's range. Then the price fell towards the support at 10 800 which did not attract any buyers. What was more interesting, however, was the bounce back from below that gave nice trading opportunity. Today we open outside the previous day range and Dax has already returned to Friday's range. Overall, Dax is in the descending price action directional move where we leave the gaps unclosed, yet to be tested in the future.

Important zones

  • Resistance: 11 754, 10 843
  • Support: 10 401

Statistics for today

Macroeconomic releases

  • NIL

Today's session hypothesis

Today we can expect some bullish pressures and retest of 10 754 or even 10 843, where the powers could shift. We don't expect the re-test of Friday's high as this has a statistically very low probability of just 7%. Currently, the price is in the consolidation area from November 2016 and we expect the price fall to diminish for the time being. The lowest support is at the lower edge of the consolidation area at 10 400.