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14 Jan 2015
DAX muted after ECJ Verdict
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, trades slightly lower, snapping gains for three day in a row amid revival of concerns over global growth prospects and continued downfall in oil prices.
Currently, the DAX 30 trades at 9904.50 levels, down -0.36% compared to previous session’s close of 9941. The DAX remained lower, shrugging off the European Court of Justice (ECJ) ruling which came in favour of the legality of the European Central Bank's (ECB) controversial and untested Outright Monetary Transactions (OMT) program.
However, the index is seen trading with a positive market breadth with an advance decline ratio of 19:10. Among major gainers, Deutsche Telekom AG, Heidelberg Cement AG and Bayer AG climbed 1.57% to 1.85%. Among the major losers, ThyssenKrupp AG, Commerzbank AG and RWE AG declined -1.64% to -3.84%.
DAX Technical Levels
The index has an immediate resistance at 9978.50 levels, above which gains could be extended to 10083 levels. Meanwhile, support is seen at 9900 levels and 9786 levels.
Currently, the DAX 30 trades at 9904.50 levels, down -0.36% compared to previous session’s close of 9941. The DAX remained lower, shrugging off the European Court of Justice (ECJ) ruling which came in favour of the legality of the European Central Bank's (ECB) controversial and untested Outright Monetary Transactions (OMT) program.
However, the index is seen trading with a positive market breadth with an advance decline ratio of 19:10. Among major gainers, Deutsche Telekom AG, Heidelberg Cement AG and Bayer AG climbed 1.57% to 1.85%. Among the major losers, ThyssenKrupp AG, Commerzbank AG and RWE AG declined -1.64% to -3.84%.
DAX Technical Levels
The index has an immediate resistance at 9978.50 levels, above which gains could be extended to 10083 levels. Meanwhile, support is seen at 9900 levels and 9786 levels.