Dax daily: 11 Jun 2019

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Yesterday, we expected a retest of 12 139 and the drop towards the trend line . Dax did not reach all the way towards the resistance zone , but the return to 12 046 level worked well. The market met both of our indications – the support zone of 12 046 and the trend line . Bulls were not strong enough in the afternoon session and the price closed slightly negative at 12 084.

Important zones

Resistance: 12 139
Support: 12 046

Statistics for today

Detailed statistics in the Statistical Application
The statistical probability to close the gap is only 38%

Macroeconomic releases


Today’s session hypothesis

The price opened with an ascending gap sized 50 points, right at the mentioned resistance level . The statistical probabilities incline the gap closure is unlikely for today’s session and this indicates a bullish bias. Should the uptrend be formed and confirmed, we estimate the price is to reach 12 207 level.

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