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16 Oct 2014
Dax rises from 8560 levels
FXStreet (Mumbai) - The German equity index is trading higher after the prices took support at the yesterday’s low of 8560.
The Dax is trading 0.26% higher at 8594. The gains in the index are being capped by the Construction and Utility stocks which are trading down by 0.89% and 0.86% respectively. Meanwhile, lending support to the index is the Chemical sector, which is trading up by 0.62%. Financial Services, Chemicals, and Technology stocks are all trading in the green.
The Index may take a hit if the final Eurozone CPI figure for September prints below the initial estimate of 0.7% year-on-year.
Dax Technical levels
Dax has an immediate support of 8489 levels, while the immediate resistance is located at 8673 levels. The index can rally to 8700 levels if the resistance of 8673 levels is taken out.
The Dax is trading 0.26% higher at 8594. The gains in the index are being capped by the Construction and Utility stocks which are trading down by 0.89% and 0.86% respectively. Meanwhile, lending support to the index is the Chemical sector, which is trading up by 0.62%. Financial Services, Chemicals, and Technology stocks are all trading in the green.
The Index may take a hit if the final Eurozone CPI figure for September prints below the initial estimate of 0.7% year-on-year.
Dax Technical levels
Dax has an immediate support of 8489 levels, while the immediate resistance is located at 8673 levels. The index can rally to 8700 levels if the resistance of 8673 levels is taken out.