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4 Feb 2015
DAX declines, shrugs off Cheerful Euro zone PMI
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened flat and edged lower as traders shrugged off final services PMI data that painted a bright picture for the euro zone.
Currently, the DAX 30 traded at 10841.80 levels, down -0.44%, moving away from record highs posted at 10984.69 levels. The DAX remained lower as traders continue to closely watch developments from the new Greece government as Greece's Prime Minister Alexis Tsipras meets with European Commission President Jean-Claude Juncker in Brussels today.
The index is seen trading with a negative market breadth with an advance decline ratio of 4:26. Among major gainers, Volkswagen AG leads the index gaining 0.52%. On the losing end, Deutsche Lufthansa AG, RWE AG and Fresenius Medical are down -1.51% to -2.97%.
DAX Technical Levels
The index has an immediate resistance at 10890. Meanwhile, support is seen at 10770 levels and 10650 levels.
Currently, the DAX 30 traded at 10841.80 levels, down -0.44%, moving away from record highs posted at 10984.69 levels. The DAX remained lower as traders continue to closely watch developments from the new Greece government as Greece's Prime Minister Alexis Tsipras meets with European Commission President Jean-Claude Juncker in Brussels today.
The index is seen trading with a negative market breadth with an advance decline ratio of 4:26. Among major gainers, Volkswagen AG leads the index gaining 0.52%. On the losing end, Deutsche Lufthansa AG, RWE AG and Fresenius Medical are down -1.51% to -2.97%.
DAX Technical Levels
The index has an immediate resistance at 10890. Meanwhile, support is seen at 10770 levels and 10650 levels.