For a change, yesterday’s session was in the hands of buyers. We first found some sellers at the resistance zone of 11 956 and they pushed the Dax some 50 points lower before buyers stepped in. Dax is opening with an ascending gap today.
Resistance: 12 139
Support: 11 946
Statistics for today
Detailed statistics in the Statistical Application
11:00 CEST – Eurozone – Flash GDP q/q
Today’s session hypothesis
Today, we expect buyers to continue in the correction with the first target laying at 12 190 and then 12 455 in the following days. The probability of closing the gap is not any high today, but the market structure of the recent days signifies the initial short. We could find some buyers at the support level of 11 964 which we could use as a bounce area to enter into a long position targeting 12 195. Sellers have a possible level of interest around the 12 139 zone.
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