7 Apr 2015
DAX shoots above 12k, upbeat EZ PMIs support
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened with a sharp positive gap of 76 points above 12k mark and extended further following its other European counterparts on solid services PMI reports across the Euro zone, with Greece still in the spotlight.
Currently, the DAX 30 trades higher by nearly 1% at 12083.50 levels, retreating from fresh session highs at 12107. The DAX rallied to fresh highs lifted by Wall Street gains overnight and fresh reports on services PMIs from the region's strongest economies. More so, a broad euro weakness also continues to support the gains in the index.
The index is seen trading with a positive market breadth, the advance-decline ratio being 27:3. RWE AG is the top gainer, up 3.38%, followed by Heidelberg Cement AG which is up 2.51%. Deutsche Lufthansa lags the index by -2.04%, followed by Daimler AG which is down -0.78%.
DAX Technical Levels
The index has an immediate resistance at 12195. Meanwhile, support is seen at 12k levels and 11880 levels.
Currently, the DAX 30 trades higher by nearly 1% at 12083.50 levels, retreating from fresh session highs at 12107. The DAX rallied to fresh highs lifted by Wall Street gains overnight and fresh reports on services PMIs from the region's strongest economies. More so, a broad euro weakness also continues to support the gains in the index.
The index is seen trading with a positive market breadth, the advance-decline ratio being 27:3. RWE AG is the top gainer, up 3.38%, followed by Heidelberg Cement AG which is up 2.51%. Deutsche Lufthansa lags the index by -2.04%, followed by Daimler AG which is down -0.78%.
DAX Technical Levels
The index has an immediate resistance at 12195. Meanwhile, support is seen at 12k levels and 11880 levels.