12 Jan 2015
DAX gains on increased Sovereign QE bets
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened the day higher and climbed higher on increased bets of additional stimulus after reports that the European Central Bank (ECB) policymakers discussed possible scenarios for buying Government bonds.
Currently, the DAX 30 trades at 9779.50 levels, up 1.37% compared to previous session’s close of 9648.50. The DAX remains elevated as markets continue to mull over the European Central Bank's (ECB) possible stimulus measures options, providing yet another signal that the continent is moving towards full-blown QE.
The index is trading with a positive market breadth with an advance decline ratio of 26:4. Among major gainers, Fresenius SE, Deutsche Lufthansa and Merck KGaA jumped 2.24% to 4.55%. Among the major losers, RWE AG, Commerzbank AG and E.ON SE are down -0.37% to -2.45%.
DAX Technical Levels
The index has an immediate resistance at 9860 levels, above which gains could be extended to 9922 levels. Meanwhile, support is seen at 9764.73 (Jan 2 High) levels and 9648.50 (Jan 9 Low) levels.
Currently, the DAX 30 trades at 9779.50 levels, up 1.37% compared to previous session’s close of 9648.50. The DAX remains elevated as markets continue to mull over the European Central Bank's (ECB) possible stimulus measures options, providing yet another signal that the continent is moving towards full-blown QE.
The index is trading with a positive market breadth with an advance decline ratio of 26:4. Among major gainers, Fresenius SE, Deutsche Lufthansa and Merck KGaA jumped 2.24% to 4.55%. Among the major losers, RWE AG, Commerzbank AG and E.ON SE are down -0.37% to -2.45%.
DAX Technical Levels
The index has an immediate resistance at 9860 levels, above which gains could be extended to 9922 levels. Meanwhile, support is seen at 9764.73 (Jan 2 High) levels and 9648.50 (Jan 9 Low) levels.