16 Jan 2015
DAX drops amid high volatility
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened with a negative gap of 57 points and fell further, erasing previous gains on European Central Bank stimulus bets
Currently, the DAX 30 traded at 9946 levels, down -0.86%, having hit day’s high at 10041 levels The DAX continues to sink further as markets expect another volatile trading session after a surprise announcement by the Swiss National Bank (SNB).
The index is seen trading with a negative market breadth with an advance decline ratio of 12:18. Among major gainers, Fresenius SE & Co KG, Volkswagen AG and Daimler AG climbed 0.74% to 0.84%. Among the major losers, Deutsche Lufthansa AG, Commerzbank AG and K+S AG declined -1.28% to -2.24%.
DAX Technical Levels
The index has an immediate resistance at 10062 levels, above which gains could be extended to 11k levels. Meanwhile, support is seen at 9929 levels and 9851 levels.
Currently, the DAX 30 traded at 9946 levels, down -0.86%, having hit day’s high at 10041 levels The DAX continues to sink further as markets expect another volatile trading session after a surprise announcement by the Swiss National Bank (SNB).
The index is seen trading with a negative market breadth with an advance decline ratio of 12:18. Among major gainers, Fresenius SE & Co KG, Volkswagen AG and Daimler AG climbed 0.74% to 0.84%. Among the major losers, Deutsche Lufthansa AG, Commerzbank AG and K+S AG declined -1.28% to -2.24%.
DAX Technical Levels
The index has an immediate resistance at 10062 levels, above which gains could be extended to 11k levels. Meanwhile, support is seen at 9929 levels and 9851 levels.