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3 Jun 2015
DAX keeps green ahead of Draghi’s presser
FXStreet (Mumbai) - Germany’s benchmark index, the DAX halted its 4-day downward spiral and rebounded higher today as traders continue to cheer series upbeat economic releases from the Euro zone ahead of the ECB meeting.
Currently, the DAX 30 trades 0.45 higher at 11381.50 levels, retreating from 11405.50 fresh session highs. The DAX remains lifted on a weaker euro, correcting previous heavy gains, which boosts exporters’ stocks higher. While markets await the European Central Bank (ECB) meeting and press conference starting later in the day.
The index is seen trading with a positive market breadth, the advance-decline ratio being 25:5. adidas AG is the top gainer up 1.20, followed by Deutsche Lufthansa up 1.15%. While Fresenius SE is down -0.56% on the day, followed by MRG AG which is losing -0.19%.
DAX Technical Levels
The index has an immediate resistance at 11500. Meanwhile, support is seen at 11260 levels and 11100 levels.
Currently, the DAX 30 trades 0.45 higher at 11381.50 levels, retreating from 11405.50 fresh session highs. The DAX remains lifted on a weaker euro, correcting previous heavy gains, which boosts exporters’ stocks higher. While markets await the European Central Bank (ECB) meeting and press conference starting later in the day.
The index is seen trading with a positive market breadth, the advance-decline ratio being 25:5. adidas AG is the top gainer up 1.20, followed by Deutsche Lufthansa up 1.15%. While Fresenius SE is down -0.56% on the day, followed by MRG AG which is losing -0.19%.
DAX Technical Levels
The index has an immediate resistance at 11500. Meanwhile, support is seen at 11260 levels and 11100 levels.