18 Feb 2015
DAX on its way to record highs
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened with a positive gap and remained higher following its European counterparts as markets now look forward to UK’s labor market data and the BoE minutes, while Greece still remains in the spotlight.
Currently, the DAX 30 traded higher by 0.54% at 10,950.50 levels, having previously posted day’s highs at 10964.30 levels. The DAX edged higher as worries over Greece’s future faded and traders now focus on UK releases and US FOMC minutes for further momentum.
The index is seen trading with a positive market breadth with an advance decline ratio of 25:5. Among major gainers, BMW AG is the top gainer, up 1.71%, followed by Henkel AG up nearly 0.97% and Deutsche Lufthansa AG up 0.71%.
DAX Technical Levels
The index has an immediate resistance at 11k. Meanwhile, support is seen at 10900 levels and 10765 levels.
Currently, the DAX 30 traded higher by 0.54% at 10,950.50 levels, having previously posted day’s highs at 10964.30 levels. The DAX edged higher as worries over Greece’s future faded and traders now focus on UK releases and US FOMC minutes for further momentum.
The index is seen trading with a positive market breadth with an advance decline ratio of 25:5. Among major gainers, BMW AG is the top gainer, up 1.71%, followed by Henkel AG up nearly 0.97% and Deutsche Lufthansa AG up 0.71%.
DAX Technical Levels
The index has an immediate resistance at 11k. Meanwhile, support is seen at 10900 levels and 10765 levels.