23 Mar 2015
DAX back below 12k, Greece talks eyed
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened the week on a negative note and fell further into losses following other European counterparts ahead of the Greece-Germany meeting later in the day as well as a speech from ECB President Mario Draghi.
Currently, the DAX 30 slips by -1.21% and trades at 11893.50 levels, bouncing-off day’s highs at 12009.80 levels reached at open. The DAX dropped as traders remain wary over Greece uncertainties Greek as Prime Minister Alexis Tsipras and German Chancellor Angela Merkel are due to meet today in Berlin, with the meeting to be followed by a press conference at about 5pm GMT.
Meanwhile, traders also eye ECB Draghi’s testimony on monetary policy in front of the European Parliament's Economic and Monetary Affairs Committee later this day.
The index is seen trading with a negative market breadth, advance-decline ratio being 3:27. Deutsche Bank is the only gainer, up 3.07%. On the losing end, adidas AG is down -2.29% followed by BMW AG which is lower by -2.10%.
DAX Technical Levels
The index has an immediate resistance at 12000. Meanwhile, support is seen at 11800 levels and 11587 levels.
Currently, the DAX 30 slips by -1.21% and trades at 11893.50 levels, bouncing-off day’s highs at 12009.80 levels reached at open. The DAX dropped as traders remain wary over Greece uncertainties Greek as Prime Minister Alexis Tsipras and German Chancellor Angela Merkel are due to meet today in Berlin, with the meeting to be followed by a press conference at about 5pm GMT.
Meanwhile, traders also eye ECB Draghi’s testimony on monetary policy in front of the European Parliament's Economic and Monetary Affairs Committee later this day.
The index is seen trading with a negative market breadth, advance-decline ratio being 3:27. Deutsche Bank is the only gainer, up 3.07%. On the losing end, adidas AG is down -2.29% followed by BMW AG which is lower by -2.10%.
DAX Technical Levels
The index has an immediate resistance at 12000. Meanwhile, support is seen at 11800 levels and 11587 levels.