5 Mar 2015
DAX defends gains ahead of ECB
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened on a positive note and edged higher near record highs as markets await ECB President Mario Draghi's press conference to get more details about the bank's bond-buying program.
Currently, the DAX 30 trades higher by 0.25% at 11419.30 levels, having previously posted day’s highs at 11462 levels. The DAX remained elevated as traders shrugged off below estimates German factory orders data. However, the gains were restricted as markets digest corporate earnings results.
The index is seen trading with a positive market breadth with an advance decline ratio of 20:10. Among major gainers, Merck AG is the top gainer, up 1.91%, followed by Infineon Technologies up nearly 1.28%. While, Deutsche Lufthansa is the top loser on the index, down -1.48%. Commerzbank AG is declining -0.68%.
DAX Technical Levels
The index has an immediate resistance at 11465. Meanwhile, support is seen at 11300 levels and 11187 levels.
Currently, the DAX 30 trades higher by 0.25% at 11419.30 levels, having previously posted day’s highs at 11462 levels. The DAX remained elevated as traders shrugged off below estimates German factory orders data. However, the gains were restricted as markets digest corporate earnings results.
The index is seen trading with a positive market breadth with an advance decline ratio of 20:10. Among major gainers, Merck AG is the top gainer, up 1.91%, followed by Infineon Technologies up nearly 1.28%. While, Deutsche Lufthansa is the top loser on the index, down -1.48%. Commerzbank AG is declining -0.68%.
DAX Technical Levels
The index has an immediate resistance at 11465. Meanwhile, support is seen at 11300 levels and 11187 levels.