22 Dec 2014
DAX advances on renewed global optimism
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened higher today and traded firm on the back of positive market sentiment as traders cheered renewed optimism heading into this holiday shortened week.
Currently, the DAX 30 trades at 9859 levels, up 0.74%, compared to yesterday’s close of 9786.96. The DAX climbed higher after investors continue to cheer rebound in oil prices. The index is likely to remain buoyed amid lack of any economic data from Europe today, as traders now turn their attention to second round of the Greek presidential election due tomorrow.
The index is trading with a positive market breadth with an advance decline ratio of 28:2. Among the major gainers, ThyssenKrupp AG, Fresenius Medical Care AG & Co KGaA, Volkswagen AG and Merck KGaA gained 0.5% to 0.90%. The top loser was Deutsche Lufthansa AG which was losing -0.33% on the day.
DAX Technical Levels
The index has an immediate resistance at 9907.82 (Dec 11 High), above which gains could be extended to 10k levels. Meanwhile, support is seen at 9763.41 (Dec 11 Low) and 9669.80 (Dec 18 Low) levels.
Currently, the DAX 30 trades at 9859 levels, up 0.74%, compared to yesterday’s close of 9786.96. The DAX climbed higher after investors continue to cheer rebound in oil prices. The index is likely to remain buoyed amid lack of any economic data from Europe today, as traders now turn their attention to second round of the Greek presidential election due tomorrow.
The index is trading with a positive market breadth with an advance decline ratio of 28:2. Among the major gainers, ThyssenKrupp AG, Fresenius Medical Care AG & Co KGaA, Volkswagen AG and Merck KGaA gained 0.5% to 0.90%. The top loser was Deutsche Lufthansa AG which was losing -0.33% on the day.
DAX Technical Levels
The index has an immediate resistance at 9907.82 (Dec 11 High), above which gains could be extended to 10k levels. Meanwhile, support is seen at 9763.41 (Dec 11 Low) and 9669.80 (Dec 18 Low) levels.