26 May 2015
DAX slips on Greek woes
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened on a stronger note with a positive gap of 40 points. But the gains were quickly wiped out and the index fell in red as markets shifted their focus on Greece updates amid a data-empty EUR calendar.
Currently, the DAX 30 trades -0.64% lower at 11731 levels, retreating from 11680.30 lows. The DAX extends declines tracking losses from its European counterparts as Greece and its debt problems remain on the front page, curbing the mood among traders.
The index is seen trading with a negative market breadth, the advance-decline ratio being 2:28. Henkel AG is the top gainer up 1.39% followed by SAP SE up mere 0.05%. While Commerzbank AG is down -1.72% on the day, followed by RWE AG which is losing -1.60%.
DAX Technical Levels
The index has an immediate resistance at 11885. Meanwhile, support is seen at 11650 levels and 11531 levels.
Currently, the DAX 30 trades -0.64% lower at 11731 levels, retreating from 11680.30 lows. The DAX extends declines tracking losses from its European counterparts as Greece and its debt problems remain on the front page, curbing the mood among traders.
The index is seen trading with a negative market breadth, the advance-decline ratio being 2:28. Henkel AG is the top gainer up 1.39% followed by SAP SE up mere 0.05%. While Commerzbank AG is down -1.72% on the day, followed by RWE AG which is losing -1.60%.
DAX Technical Levels
The index has an immediate resistance at 11885. Meanwhile, support is seen at 11650 levels and 11531 levels.