23 Dec 2014
DAX trades flat on Greek political instability
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened the day with a positive start as traders cheered upbeat French GDP figures and now trades flat after second round of the Greek presidential election failed.
Currently, the DAX 30 trades unchanged at 9862.50 levels, compared to yesterday’s close of 9865.76. The DAX traded subdued as trades are off on the holiday season. The index is likely to remain pressured after second round of the Greek presidential election failed to garner majority votes.
The index is trading with a negative market breadth with an advance decline ratio of 10:20. Continental AG and Bayerische Motoren Werke AG are the marginal gainers on the index. Deutsche Boerse AG and Deutsche Telekom AG are the top losers, losing -0.83% and -0.97% respectively.
DAX Technical Levels
The index has an immediate resistance at 9907.82 (Dec 11 High), above which gains could be extended to 10k levels. Meanwhile, support is seen at 9763.41 (Dec 11 Low) and 9669.80 (Dec 18 Low) levels.
Currently, the DAX 30 trades unchanged at 9862.50 levels, compared to yesterday’s close of 9865.76. The DAX traded subdued as trades are off on the holiday season. The index is likely to remain pressured after second round of the Greek presidential election failed to garner majority votes.
The index is trading with a negative market breadth with an advance decline ratio of 10:20. Continental AG and Bayerische Motoren Werke AG are the marginal gainers on the index. Deutsche Boerse AG and Deutsche Telekom AG are the top losers, losing -0.83% and -0.97% respectively.
DAX Technical Levels
The index has an immediate resistance at 9907.82 (Dec 11 High), above which gains could be extended to 10k levels. Meanwhile, support is seen at 9763.41 (Dec 11 Low) and 9669.80 (Dec 18 Low) levels.