9 Jan 2015
DAX subdued, Key US Jobs Report awaited
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened the day slightly lower and traded choppy swinging between gains and losses as investors await a key US jobs report later in the day.
Currently, the DAX 30 trades at 9814.50 levels, down -0.23% compared to previous session’s close of 9837.61. The DAX remains subdued as sluggish Germany and UK economic releases continue to dampen market sentiments.
The index is trading with a positive market breadth with an advance decline ratio of 18:12. Among the major losers, E.ON SE, Deutsche Lufthansa and LANXESS AG declined -0.71% to -0.93%. Among major gainers, German pharma giant Merck jumped 2.41%, making it the biggest gainer within the DAX 30 index, while Fresenius SE and K+S AG rallied 1.57% and 1.17%.
DAX Technical Levels
The index has an immediate resistance at 9922 levels, above which gains could be extended to 10k levels. Meanwhile, support is seen at 9790.27 (Jan 5 High) levels and 9750.70 (10-DMA) levels.
Currently, the DAX 30 trades at 9814.50 levels, down -0.23% compared to previous session’s close of 9837.61. The DAX remains subdued as sluggish Germany and UK economic releases continue to dampen market sentiments.
The index is trading with a positive market breadth with an advance decline ratio of 18:12. Among the major losers, E.ON SE, Deutsche Lufthansa and LANXESS AG declined -0.71% to -0.93%. Among major gainers, German pharma giant Merck jumped 2.41%, making it the biggest gainer within the DAX 30 index, while Fresenius SE and K+S AG rallied 1.57% and 1.17%.
DAX Technical Levels
The index has an immediate resistance at 9922 levels, above which gains could be extended to 10k levels. Meanwhile, support is seen at 9790.27 (Jan 5 High) levels and 9750.70 (10-DMA) levels.