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6 Jan 2015
DAX subdued on Mixed Euro Zone and UK data
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened the day with a negative gap and trades lower on downbeat Services PMI readings from the Euro zone and UK, which dampened the global growth outlook.
Currently, the DAX 30 trades at 9443 levels, down -0.31% compared to previous session’s close of 9473.16. The DAX edged lower as the slump in crude oil continues to weigh negatively on equity markets around the world.
The index is trading with a negative market breadth with an advance decline ratio of 13:17. Among the major losers, shares in E.ON SE, SAP SE, LANXESS AG and RWE AG declined -1% to -2.08%. Fresenius SE & Co KGaA and Deutsche Post AG are the top gainers on the index, each gaining 1.05% and 0.50% respectively.
DAX Technical Levels
The index has an immediate resistance at 9500, above which gains could be extended to 9589 levels. Meanwhile, support is seen at 9400 levels and 9330 levels.
Currently, the DAX 30 trades at 9443 levels, down -0.31% compared to previous session’s close of 9473.16. The DAX edged lower as the slump in crude oil continues to weigh negatively on equity markets around the world.
The index is trading with a negative market breadth with an advance decline ratio of 13:17. Among the major losers, shares in E.ON SE, SAP SE, LANXESS AG and RWE AG declined -1% to -2.08%. Fresenius SE & Co KGaA and Deutsche Post AG are the top gainers on the index, each gaining 1.05% and 0.50% respectively.
DAX Technical Levels
The index has an immediate resistance at 9500, above which gains could be extended to 9589 levels. Meanwhile, support is seen at 9400 levels and 9330 levels.