7 Jul 2015
DAX subdued, all eyes on Euro Summit
FXStreet (Mumbai) - Germany’s benchmark index, the DAX snapped previous gains and fell back in red, sitting near three month lows, as caution prevails as euro zone officials are set to resume talks on a Greek deal.
Currently, the DAX 30 trades flat at 10880.80 levels, retracing from close to three-week lows reached at 10853.50. German stocks keeps red, although recovered from lows, as traders remain on the side lines awaiting the upcoming talks on Greece. Meanwhile, Greece’s stock market will remain closed until Wednesday.
The index trades with a negative market breadth with the advance-decline ratio being 14:16. Deutsche Boerse AG is the top gainer, up 1.42%, followed by Allianz SE which is advancing 0.62%. on the other hand, adidas AG is the top loser so far, down -1.60%, followed by Daimler AG which is losing -1.34%.
DAX Technical Levels
The index has an immediate resistance at 11k. Meanwhile, support is seen at 10765 levels and 10594 levels.
Currently, the DAX 30 trades flat at 10880.80 levels, retracing from close to three-week lows reached at 10853.50. German stocks keeps red, although recovered from lows, as traders remain on the side lines awaiting the upcoming talks on Greece. Meanwhile, Greece’s stock market will remain closed until Wednesday.
The index trades with a negative market breadth with the advance-decline ratio being 14:16. Deutsche Boerse AG is the top gainer, up 1.42%, followed by Allianz SE which is advancing 0.62%. on the other hand, adidas AG is the top loser so far, down -1.60%, followed by Daimler AG which is losing -1.34%.
DAX Technical Levels
The index has an immediate resistance at 11k. Meanwhile, support is seen at 10765 levels and 10594 levels.