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26 Jan 2015
DAX trades at All-time high on upbeat German data
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened slightly lower but quickly reversed trend and edged higher to record fresh all-time highs as dust settled over Greece elections.
Currently, the DAX 30 traded at 10713.80 levels, up 0.62%, having posted record highs at 10740.80 an hour ago. The DAX remained elevated as traders digested Syriza's victory in the Greek elections and also as Germany's Ifo index survey for January exceeded expectations.
The index is seen trading with a positive market breadth with an advance decline ratio of 28:2. Among major gainers, BMW leads the index gaining 2.67% followed by Fresenius SE & Co KG and Daimler AG climbing up by 2.14% to 2.56%.
DAX Technical Levels
The index has an immediate resistance at 10740. Meanwhile, support is seen at 10600 levels and 10439 levels.
Currently, the DAX 30 traded at 10713.80 levels, up 0.62%, having posted record highs at 10740.80 an hour ago. The DAX remained elevated as traders digested Syriza's victory in the Greek elections and also as Germany's Ifo index survey for January exceeded expectations.
The index is seen trading with a positive market breadth with an advance decline ratio of 28:2. Among major gainers, BMW leads the index gaining 2.67% followed by Fresenius SE & Co KG and Daimler AG climbing up by 2.14% to 2.56%.
DAX Technical Levels
The index has an immediate resistance at 10740. Meanwhile, support is seen at 10600 levels and 10439 levels.