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4 Dec 2014
DAX hovers around 10K, eyes on ECB Meeting
FXStreet (Mumbai) - Germany’s benchmark index started Thursday’s trading session higher, crossing 10000 levels as markets await European Central Bank monetary policy meeting later in the day.
The index rose 0.31% to trade at 10015 during the European trading hours. The index breadth is positive with an advance-decline ratio of 16:13. Among the major gainers, shares in Infineon Technologies are up by 1.61% and Deutsche Lufthansa up by 1.22%. The t, the Dax,op loser is Siemens which is 0.74% lower.
The focus today is expected to be on ECB President Draghi’s comments at the press conference following the bank’s policy meeting.
DAX Technical Levels
The index has an immediate resistance at 10038 (Dec 2 High), above which gains could be extended to 10046 (June 20 High). Meanwhile, support is seen at 9986.68 (5-day SMA) and 9970 (10-day SMA) levels.
The index rose 0.31% to trade at 10015 during the European trading hours. The index breadth is positive with an advance-decline ratio of 16:13. Among the major gainers, shares in Infineon Technologies are up by 1.61% and Deutsche Lufthansa up by 1.22%. The t, the Dax,op loser is Siemens which is 0.74% lower.
The focus today is expected to be on ECB President Draghi’s comments at the press conference following the bank’s policy meeting.
DAX Technical Levels
The index has an immediate resistance at 10038 (Dec 2 High), above which gains could be extended to 10046 (June 20 High). Meanwhile, support is seen at 9986.68 (5-day SMA) and 9970 (10-day SMA) levels.