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2 Jan 2015
DAX slides after Mixed Euro zone PMIs
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened the year 2015 on a negative note and trades lower following European counterparts following downbeat final manufacturing PMI reports, while digesting comments from ECB President Mario Draghi.
Currently, the DAX 30 trades lower at 9752 levels, down -0.55%, compared to previous session’s close of 9805.55. The DAX edged lower after the final factory PMI for the region's economies came in at worse than expected, with traders reacting also to the latest comments from European Central Bank (ECB) President Mario Draghi.
The index is trading with a negative market breadth with an advance decline ratio of 3:27. Bayerische Motoren Werke AG and Fresenius Medical Care AG & Co KGaA are top losers on the index, each losing nearly 2%. Among the major gainers, Deutsche Lufthansa AG, Deutsche Bank AG and Commerzbank AG moved up 0.3% to 0.5%.
DAX Technical Levels
The index has an immediate resistance at 9811.06 (Dec 18 High), above which gains could be extended to 9907.82 (Dec 11 High) levels. Meanwhile, support is seen at 9688.66 (Dec 19 Low) and 9669.80 (Dec 18 Low) levels.
Currently, the DAX 30 trades lower at 9752 levels, down -0.55%, compared to previous session’s close of 9805.55. The DAX edged lower after the final factory PMI for the region's economies came in at worse than expected, with traders reacting also to the latest comments from European Central Bank (ECB) President Mario Draghi.
The index is trading with a negative market breadth with an advance decline ratio of 3:27. Bayerische Motoren Werke AG and Fresenius Medical Care AG & Co KGaA are top losers on the index, each losing nearly 2%. Among the major gainers, Deutsche Lufthansa AG, Deutsche Bank AG and Commerzbank AG moved up 0.3% to 0.5%.
DAX Technical Levels
The index has an immediate resistance at 9811.06 (Dec 18 High), above which gains could be extended to 9907.82 (Dec 11 High) levels. Meanwhile, support is seen at 9688.66 (Dec 19 Low) and 9669.80 (Dec 18 Low) levels.