Dax daily: 17 Jul 2020
Yesterday's analysis turned out as expected, again. The market stalled around 12 882, closing the gap and retesting the VPOC of the previous day. Dax stalled around this level and hasn't taken any clear direction afterwards.
Important zones
Resistance: 13 119
Support: 12 592
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
NIL
Today's session hypothesis
The price opened without any significant gap today and Dax is currently trading around yesterday's VPOC of 12 915. It will be important to observe the price behaviour of higher volume in the current range. Dax is now at the level where market participants are willing to trade and consider it adequately priced. For such reason, we don't expect any rapid bullish move but rather a slower move sideways.
Important zones
Resistance: 13 119
Support: 12 592
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
NIL
Today's session hypothesis
The price opened without any significant gap today and Dax is currently trading around yesterday's VPOC of 12 915. It will be important to observe the price behaviour of higher volume in the current range. Dax is now at the level where market participants are willing to trade and consider it adequately priced. For such reason, we don't expect any rapid bullish move but rather a slower move sideways.
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