Dax daily: 29 Aug 2019
Yesterday's session drew a nice 'V' shape. The price started to fall towards the support level of 11 561 right from the beginning of the session and this was the area where price marked its intraday low and bounced back upwards. The first support zone laying at 11 678 had little effect. The statistical probability about closing inside the previous day range was also fulfilled.
Important zones
Resistance: 11 772
Support: 11 608, trendline
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
08:45 - 09:55 CEST - various Eurozone reports - refer to the Economic calendar
Today's session hypothesis
For today's price estimation, we need to monitor the Price Action around the slightly consolidated area formed around yesterday's close. If Dax goes above this zone, it is likely we see a retest of 11 772 and the return back to the range zone of the past few days. Contrary, should bears prove their presence, we can see the retest of our support level and the trendline around 11 600 which could serve as an interesting area for some bullish correction.
Important zones
Resistance: 11 772
Support: 11 608, trendline
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
08:45 - 09:55 CEST - various Eurozone reports - refer to the Economic calendar
Today's session hypothesis
For today's price estimation, we need to monitor the Price Action around the slightly consolidated area formed around yesterday's close. If Dax goes above this zone, it is likely we see a retest of 11 772 and the return back to the range zone of the past few days. Contrary, should bears prove their presence, we can see the retest of our support level and the trendline around 11 600 which could serve as an interesting area for some bullish correction.
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