Dax daily: 20 Jul 2020
On Friday, the price remained around 12 915 and the market balance was confirmed again. As we expected, Dax traded rather sideways without any reasonable volatility. Bullish traders managed to close the session on its daily high, but it definitely wasn't a signal of an uptrend.
Important zones
Resistance: 13 119
Support: 12 882
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
NIL
Today's session hypothesis
The week opens with a reasonably small descending gap. The price is, once again, at the VPOC of the previous trading session. 12 882 is now the support level and if buyers are to take the price higher, this S/R level could serve as a very good entry level with the target to 13 119. The last two sessions of the past week can also be understood as an insufficient signal of the bullish strength, despite the clear upwards direction, yet without much momentum. Contrary, should 12 882 be broken to the downside, Dax has a lot of free space towards 12 592.
Important zones
Resistance: 13 119
Support: 12 882
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
NIL
Today's session hypothesis
The week opens with a reasonably small descending gap. The price is, once again, at the VPOC of the previous trading session. 12 882 is now the support level and if buyers are to take the price higher, this S/R level could serve as a very good entry level with the target to 13 119. The last two sessions of the past week can also be understood as an insufficient signal of the bullish strength, despite the clear upwards direction, yet without much momentum. Contrary, should 12 882 be broken to the downside, Dax has a lot of free space towards 12 592.
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