13 May 2015
DAX eases-off highs post EMU data
FXStreet (Mumbai) - Germany’s benchmark index, the DAX rebounded today and remained elevated as markets absorb a raft of economic data released from the Euro area economies while traders now await UK’s inflation report.
Currently, the DAX 30 trades higher by -0.66% at 11548 levels, having posted day’s high at 11593.50 and day’s low at 11470.80. The DAX retreated from 11575 area after mixed EMU GDP and inflation print failed to better market sentiments. While lack lustre GDP and CPI print from Germany also continue to weigh on the index.
The index is seen trading with a positive market breadth, the advance-decline ratio being 25:5.
Commerzbank AG is the top gainer up 3.07% followed by Heidelberg Cement up 1.71%. While Deutsche AG is the top loser so far, down -1.68% on the day. While BMW AG slides -1.10%.
DAX Technical Levels
The index has an immediate resistance at 11600. Meanwhile, support is seen at 11350 levels and 11100 levels.
Currently, the DAX 30 trades higher by -0.66% at 11548 levels, having posted day’s high at 11593.50 and day’s low at 11470.80. The DAX retreated from 11575 area after mixed EMU GDP and inflation print failed to better market sentiments. While lack lustre GDP and CPI print from Germany also continue to weigh on the index.
The index is seen trading with a positive market breadth, the advance-decline ratio being 25:5.
Commerzbank AG is the top gainer up 3.07% followed by Heidelberg Cement up 1.71%. While Deutsche AG is the top loser so far, down -1.68% on the day. While BMW AG slides -1.10%.
DAX Technical Levels
The index has an immediate resistance at 11600. Meanwhile, support is seen at 11350 levels and 11100 levels.