Dax daily: 27 May 2019
On Friday we did not see an aggressive sell-off after the market open and therefore, we fulfilled the statistic of not closing the gap. The market forces were relatively balanced and the session closed in slightly green numbers. Most of the time, we traded sideways. As we have not moved anywhere, our zones from the previous analysis remain valid.
Important zones
Resistance: 12 142
Support: 11 958, 11 11 922
Statistics for today
Probability of closing the gap: 70%
Macroeconomic releases
USA Memorial Day
Today’s session hypothesis
Our new week started with bullish aggressive activity. Buyers should be aiming at 12 142, which is marked as our resistance. Against buying, we have the statistic of closing the gap of about 20 points, which was closed 70% of the time out of 123 cases. Such a strong statistic should be in favour of sellers. We, however, believe that buyers should have the upper hand. If we do test lower prices, it’d mean that buyers are waiting somewhere at lower prices. 12 023 might be such a level.
Important zones
Resistance: 12 142
Support: 11 958, 11 11 922
Statistics for today
Probability of closing the gap: 70%
Macroeconomic releases
USA Memorial Day
Today’s session hypothesis
Our new week started with bullish aggressive activity. Buyers should be aiming at 12 142, which is marked as our resistance. Against buying, we have the statistic of closing the gap of about 20 points, which was closed 70% of the time out of 123 cases. Such a strong statistic should be in favour of sellers. We, however, believe that buyers should have the upper hand. If we do test lower prices, it’d mean that buyers are waiting somewhere at lower prices. 12 023 might be such a level.
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