Dax daily: 23 Jul 2020

Market participants were completely indecisive yesterday. For the whole trading session, Dax has gone literally nowhere with price sitting around 13 119. If we take a look at M30 chart, price action and candle formation, we can read the rejection of sellers as noticeable by the clear Doji candle.

Important zones

Resistance: 13 235, 13 519
Support: 12 882

Statistics for today

Detailed statistics in the Statistical Application

Macroeconomic releases

NIL

Today's session hypothesis

Our zones remain unchanged. Yesterday's level around 13 119 can now be classified as the important S/R zone. Dax opened the day with a bullish activity and we're getting early signals for an uptrend activity continuation. In this scenario, we are looking to target at least the nearest resistance, which is now at 13 235. We can see a correction attempt from there.