13 Jan 2015
DAX trades at 1-Week Highs
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, although opened the day slightly lower on sliding oil prices, the index later reversed losses and climbed higher as traders continue to evaluate European Central Bank's (ECB) possible stimulus measures.
Currently, the DAX 30 trades at 9863 levels, up 0.83% compared to previous session’s close of 9781.90. The DAX advanced despite tumbling oil prices and lower than estimates UK inflation numbers.
The index is trading with a positive market breadth with an advance decline ratio of 25:5. Among major gainers, Continental AG, Bayer AG and Daimler AG climbed 1.69% to 2.04%. Among the major losers, RWE AG, E.ON SE and ThyssenKrupp AG declined -0.84% to -1.43%.
DAX Technical Levels
The index has an immediate resistance at 9880 levels, above which gains could be extended to 9922 levels. Meanwhile, support is seen at 9800 levels and 9764.73 (Jan 2 High) levels.
Currently, the DAX 30 trades at 9863 levels, up 0.83% compared to previous session’s close of 9781.90. The DAX advanced despite tumbling oil prices and lower than estimates UK inflation numbers.
The index is trading with a positive market breadth with an advance decline ratio of 25:5. Among major gainers, Continental AG, Bayer AG and Daimler AG climbed 1.69% to 2.04%. Among the major losers, RWE AG, E.ON SE and ThyssenKrupp AG declined -0.84% to -1.43%.
DAX Technical Levels
The index has an immediate resistance at 9880 levels, above which gains could be extended to 9922 levels. Meanwhile, support is seen at 9800 levels and 9764.73 (Jan 2 High) levels.