Yesterday's session opened with an ascending gap. However, from the beginning of the session, sellers proved their dominance as they pushed the price lower all the way through the support of 12 592. Dax even closed the day below this zone but today's open impulse retraced back above.
Important zones
Resistance: 12 882
Support: 12 592, 12 494
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
11:00 CEST - German ZEW Economic Sentiment
Today's session hypothesis
For today, we've started with a retracement above 12 592 and we have two options on the table. The first one is that Dax will continue higher to correct yesterday's drop or the price will continue in the impulsive bearish momentum that we've seen last evening. In this case, Dax is likely to drop below the support level of 12 494 and a lot of room would open to target another zone down at 12 278. Mind the ZEW Economic Sentiment release today.
Important zones
Resistance: 12 882
Support: 12 592, 12 494
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
11:00 CEST - German ZEW Economic Sentiment
Today's session hypothesis
For today, we've started with a retracement above 12 592 and we have two options on the table. The first one is that Dax will continue higher to correct yesterday's drop or the price will continue in the impulsive bearish momentum that we've seen last evening. In this case, Dax is likely to drop below the support level of 12 494 and a lot of room would open to target another zone down at 12 278. Mind the ZEW Economic Sentiment release today.