Welcome to a new trading week. After the initial chop on Friday, the price descended towards the support level at 12036, which was well respected on the first attempt. During the second retest, the level was slightly broken. Following was the entry of buyers who took the price all the way to retest the resistance of 12 194 where Dax closed the week. Over the weekend, we open with a really significant gap.
Important zones
Resistance: 12 141
Support: trend line
Statistics for today
Detailed statistics in the Statistical Application (which you can find at ftmo.com/en/statistical-app)
Macroeconomic releases
NIL
Today’s session hypothesis
After price broke the trendline support and taking out the Fridays low, we can expect to test the trendline from the opposite side as resistance and continuation lower to approximately 11864.0 with potential filling of the gap from 3rd of April 2019.
Important zones
Resistance: 12 141
Support: trend line
Statistics for today
Detailed statistics in the Statistical Application (which you can find at ftmo.com/en/statistical-app)
Macroeconomic releases
NIL
Today’s session hypothesis
After price broke the trendline support and taking out the Fridays low, we can expect to test the trendline from the opposite side as resistance and continuation lower to approximately 11864.0 with potential filling of the gap from 3rd of April 2019.