Dax daily: 24 Jun 2019

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Welcome to a new trading week. Friday’s session turned out as expected, but unfortunately, our zones didn’t get a chance to play a role. The resistance at 12 337 and 12 373 didn’t attract any sellers. They entered a bit higher at 12 409 and continued to dominate intra-day price action. Dax then closed just short of the support level laying at 12 219. Today, we open with a strong ascending candle and with a long gap.

Important zones

Resistance: 12 350
Support: 12 219, 12 191

Statistics for today

Detailed statistics in the Statistical Application
The statistical probability of breaking Friday’s low stands at 96%

Macroeconomic releases

10:00 CEST – German Ifo Business Climate

Today’s session hypothesis

Today we have a very high probability for breaking Friday’s low. For this reason, every short signal has a clear target. If and once that happens, we could find some buyers at 12 219 or 12 191. Even though we have such a high probability for a certain market occurrence, don’t forget to always manage your risk and don’t bet too much on one card.

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