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16 Mar 2015
DAX hits all-time highs above 12000
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened slightly at record highs and rallied further and broke above the crucial 12k mark as traders await speeches from European Central Bank (ECB) officials later in the day, with no economic news on the calendar.
Currently, the DAX 30 surged 0.77% at 11994 levels, bouncing-off record highs at 12002.50 levels. The DAX extended its winning streak as the ECB QE program and looming Greece concerns continue to weigh on the shared currency, pushing the export stocks higher.
The index is seen trading with a positive market breadth, advance-decline ratio being 26:4. Among major gainers, Commerzbank AG is the top gainer, up 1.70%, followed by Continental AG up 1.13%. On the losing end, E.ON SE is down -0.90% followed by Deutsche Lufthansa AG lower by -0.65%.
DAX Technical Levels
The index has an immediate resistance at 12002.50. Meanwhile, support is seen at 11900 levels and 11750 levels.
Currently, the DAX 30 surged 0.77% at 11994 levels, bouncing-off record highs at 12002.50 levels. The DAX extended its winning streak as the ECB QE program and looming Greece concerns continue to weigh on the shared currency, pushing the export stocks higher.
The index is seen trading with a positive market breadth, advance-decline ratio being 26:4. Among major gainers, Commerzbank AG is the top gainer, up 1.70%, followed by Continental AG up 1.13%. On the losing end, E.ON SE is down -0.90% followed by Deutsche Lufthansa AG lower by -0.65%.
DAX Technical Levels
The index has an immediate resistance at 12002.50. Meanwhile, support is seen at 11900 levels and 11750 levels.