15 Jul 2015
DAX steadies ahead of Yellen, Greek parliament vote
FXStreet (Mumbai) - Germany’s benchmark index, the DAX defends mild gains mirroring its other European counterparts as caution prevails over the Greek bailout vote while traders digest the latest UK employment report and Greece headlines.
Currently, the DAX 30 trades modestly flat at 11523, retreating from session lows reached at 11477.30 levels. German stocks tread water amid worries over Greece, which has to decide over the proposed reforms that would secure additional financial aid. While traders awaiting fresh cues on the timing of the Fed rate-hike from Fed Chairperson Yellen’s testimony later tonight.
The index trades with a positive market breadth with the advance-decline ratio being 22:8. Commerzbank AG is the top gainer, up 1.81%, followed by Deutsche Lufthansa AG which is advancing 1.43%. While Volkswagen AG is the biggest loser, down 2.45%, followed by Continental AG which is losing -1.14%.
DAX Technical Levels
The index has an immediate resistance at 11635.85. Meanwhile, support is seen at 11414 levels and 11352 levels.
Currently, the DAX 30 trades modestly flat at 11523, retreating from session lows reached at 11477.30 levels. German stocks tread water amid worries over Greece, which has to decide over the proposed reforms that would secure additional financial aid. While traders awaiting fresh cues on the timing of the Fed rate-hike from Fed Chairperson Yellen’s testimony later tonight.
The index trades with a positive market breadth with the advance-decline ratio being 22:8. Commerzbank AG is the top gainer, up 1.81%, followed by Deutsche Lufthansa AG which is advancing 1.43%. While Volkswagen AG is the biggest loser, down 2.45%, followed by Continental AG which is losing -1.14%.
DAX Technical Levels
The index has an immediate resistance at 11635.85. Meanwhile, support is seen at 11414 levels and 11352 levels.