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13 Apr 2015
DAX off record highs
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened the week on a stronger note and jumped to fresh all-time highs rallied, although retreated from moving in sync with its European counterparts despite broader euro weakness which supported export-oriented stocks.
Currently, the DAX 30 trades flat at 12375.80 levels, retreating from highest levels since 2008 financial crisis at 12391.50. The DAX trades muted amid lack of fresh triggers in absence of any major drivers with Italian industrial output numbers providing little help.
The index is seen trading with a positive market breadth, the advance-decline ratio being 21:9. Infineon Technologies is the top gainer, up 0.71% while Volkswagen AG lags the index by -0.73%, followed by Continental AG which is down -0.57%.
DAX Technical Levels
The index has an immediate resistance at 12400. Meanwhile, support is seen at 12300 levels and 12175 levels.
Currently, the DAX 30 trades flat at 12375.80 levels, retreating from highest levels since 2008 financial crisis at 12391.50. The DAX trades muted amid lack of fresh triggers in absence of any major drivers with Italian industrial output numbers providing little help.
The index is seen trading with a positive market breadth, the advance-decline ratio being 21:9. Infineon Technologies is the top gainer, up 0.71% while Volkswagen AG lags the index by -0.73%, followed by Continental AG which is down -0.57%.
DAX Technical Levels
The index has an immediate resistance at 12400. Meanwhile, support is seen at 12300 levels and 12175 levels.