9 Dec 2014
DAX dives deeper into red
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened gap down and continues its slide for the 2nd straight session tracking weakness in Asian equities and oil prices.
Currently, the DAX 30 trades at 9929 levels, down -0.86%, compared to yesterday’s close of 10015. The DAX shrugged off positive German trade data and traded lower on revival of fears on global growth and amidst falling oil prices which hurt energy stocks.
The index breadth is negative with the advance decline ratio of 6:24. Bayer AG, Deutsche Lufthansa AG., Continental AG, RWE AG. lost 1 to 2 percent. Among the major gainers, shares in Henkel AG rose 1.05 percent and Fresenius SE & Co gained 0.68%
DAX Technical Levels
The index has an immediate resistance at 9942.67 (Nov 26 High), above which gains could be extended to 9979 (Dec 1 High) levels. Meanwhile, support is seen at 9835 (Dec 4 Low) and 9787.26 (Nov 25 Low) levels.
Currently, the DAX 30 trades at 9929 levels, down -0.86%, compared to yesterday’s close of 10015. The DAX shrugged off positive German trade data and traded lower on revival of fears on global growth and amidst falling oil prices which hurt energy stocks.
The index breadth is negative with the advance decline ratio of 6:24. Bayer AG, Deutsche Lufthansa AG., Continental AG, RWE AG. lost 1 to 2 percent. Among the major gainers, shares in Henkel AG rose 1.05 percent and Fresenius SE & Co gained 0.68%
DAX Technical Levels
The index has an immediate resistance at 9942.67 (Nov 26 High), above which gains could be extended to 9979 (Dec 1 High) levels. Meanwhile, support is seen at 9835 (Dec 4 Low) and 9787.26 (Nov 25 Low) levels.