Dax daily: 20 Aug 2019
Monday's session turned out as per our expectations. Although there was no short to capitalize on, one of our hypothesis was the significance of trend-line to support bullish traders. The resistance at 11 723 slowed down the price incline but no big short correction was seen. Today we open with a small ascending gap, which has a 60% probability of closing.
Important zones
Resistance: 11 899, 11 723
Support: 11 646
Statistics for today
Detailed statistics in the Statistical Application
The statistical probability of closing outside of yesterday's range is 71%
Macroeconomic releases
NIL
Today's session hypothesis
For today, we again expect the initial drop towards 11 646 where we hope to find buyers and finally start heading towards 11 899. If Dax goes below yesterday's low, it is likely we see a faster continuation towards 11 560 which might be another attractive zone for bull traders. If bullish momentum prevails right from the beginning of the session, then the first logical target is the high swing at 11 829 and then 11 899.
Important zones
Resistance: 11 899, 11 723
Support: 11 646
Statistics for today
Detailed statistics in the Statistical Application
The statistical probability of closing outside of yesterday's range is 71%
Macroeconomic releases
NIL
Today's session hypothesis
For today, we again expect the initial drop towards 11 646 where we hope to find buyers and finally start heading towards 11 899. If Dax goes below yesterday's low, it is likely we see a faster continuation towards 11 560 which might be another attractive zone for bull traders. If bullish momentum prevails right from the beginning of the session, then the first logical target is the high swing at 11 829 and then 11 899.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.