Dax daily: 28 Jul 2020

Yesterday's session turned out as expected. The price action truly was slow, if not lazy, and Dax hasn't really gone anywhere. The price oscillated just below 12 882 zone and the daily close was very slightly positive. Is this a good hint for buyers?

Important zones

Resistance: 13 119, 12 882
Support: 12 592

Statistics for today

Detailed statistics in the Statistical Application

Macroeconomic releases

NIL

Today's session hypothesis

For today, we don't have any scheduled macroeconomic releases that could amp Dax. There is no overnight gap either. And to top it up, yesterday's price action hasn't really done anything yesterday and so we'll stick to our hypothesis and monitor the price development around 12 882 S/R zone. If sellers turn out to be more aggressive, our scenario is clear. Stoploss below 12 765 while targeting 13 119. This currently makes sense to us. Contrary, should the initial momentum reverse, we'll look at 12 592 as our target.