20 Jan 2015
DAX climbs to record highs on upbeat ZEW
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, witnessed solid gains today and trades near record highs, as investors digest cheerful German economic sentiment numbers.
Currently, the DAX 30 traded elevated at 10257 levels, up 0.15%, having hit all time high at 10298 levels earlier in the session. The DAX remains higher on renewed optimism as the European Central Bank (ECB) readies to announce a stimulus program at its upcoming meeting.
The index is seen trading with a positive market breadth with an advance decline ratio of 19:10. Among major gainers, Commerzbank AG, K+S AG and Deutsche Bank AG climbed 2.53% to 3.20%. Among the major losers, SAP SE, Beiersdorf AG and Fresenius SE & Co KG declined -0.12% to -4.29%.
DAX Technical Levels
The index has an immediate resistance at 10298 levels. Meanwhile, support is seen at 10193 levels and 10k levels.
Currently, the DAX 30 traded elevated at 10257 levels, up 0.15%, having hit all time high at 10298 levels earlier in the session. The DAX remains higher on renewed optimism as the European Central Bank (ECB) readies to announce a stimulus program at its upcoming meeting.
The index is seen trading with a positive market breadth with an advance decline ratio of 19:10. Among major gainers, Commerzbank AG, K+S AG and Deutsche Bank AG climbed 2.53% to 3.20%. Among the major losers, SAP SE, Beiersdorf AG and Fresenius SE & Co KG declined -0.12% to -4.29%.
DAX Technical Levels
The index has an immediate resistance at 10298 levels. Meanwhile, support is seen at 10193 levels and 10k levels.