22 Jan 2015
DAX remains subdued, ECB eyed
FXStreet (Mumbai) - Germany’s benchmark index, the DAX edged lower today, having opened at fresh all-time highs. The gains were quickly erased as traders await fresh incentives from the ECB's press conference later in the day.
Currently, the DAX 30 traded at 10267.30 levels, down -0.31%, retracing from all time high of 10310.80 levels posted in the opening hours. The DAX edged lower as the European Central Bank (ECB) speculate the quantum of QE before the upcoming ECB meeting.
The index is seen trading with a negative market breadth with an advance decline ratio of 14:16. Among major gainers, LANXESS AG, K+S AG and Volkswagen AG climbed 1.54% to 1.91%. Among the major losers, Merck KGaA, Fresenius SE & Co and Bayer AG declined -0.93% to -1.74%.
DAX Technical Levels
The index has an immediate resistance at 10310. Meanwhile, support is seen at 10149 levels and 10k levels.
Currently, the DAX 30 traded at 10267.30 levels, down -0.31%, retracing from all time high of 10310.80 levels posted in the opening hours. The DAX edged lower as the European Central Bank (ECB) speculate the quantum of QE before the upcoming ECB meeting.
The index is seen trading with a negative market breadth with an advance decline ratio of 14:16. Among major gainers, LANXESS AG, K+S AG and Volkswagen AG climbed 1.54% to 1.91%. Among the major losers, Merck KGaA, Fresenius SE & Co and Bayer AG declined -0.93% to -1.74%.
DAX Technical Levels
The index has an immediate resistance at 10310. Meanwhile, support is seen at 10149 levels and 10k levels.