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24 Feb 2015
DAX moves away from record highs, Greece reforms talks eyed
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened with mild gains of 60 points, and edged lower pulling away from record highs as trades mull over downbeat Euro zone CPI data amid ongoing euro zone talks over Greece's reforms proposal.
Currently, the DAX 30 trades lower by -0.19% at 11114 levels, having previously posted session highs at 11144.50 levels. The DAX retreated from day’s highs and inched lower after downbeat EMU CPI numbers which confirmed that the 19-nation bloc has sunk into deflation. Moreover, the index remains muted as investors in the region waiting on whether the Euro group will approve the reforms proposal from the Greek government.
The index is seen trading with a negative market breadth with an advance decline ratio of 14:15. Among major gainers, E.ON SE is the top gainer, up 1.21%, followed by Beiersdorf AG up nearly 1%. While, Volkswagen AG is the top loser, down -1.21%.
DAX Technical Levels
The index has an immediate resistance at 11144. Meanwhile, support is seen at 11k levels and 10850 levels.
Currently, the DAX 30 trades lower by -0.19% at 11114 levels, having previously posted session highs at 11144.50 levels. The DAX retreated from day’s highs and inched lower after downbeat EMU CPI numbers which confirmed that the 19-nation bloc has sunk into deflation. Moreover, the index remains muted as investors in the region waiting on whether the Euro group will approve the reforms proposal from the Greek government.
The index is seen trading with a negative market breadth with an advance decline ratio of 14:15. Among major gainers, E.ON SE is the top gainer, up 1.21%, followed by Beiersdorf AG up nearly 1%. While, Volkswagen AG is the top loser, down -1.21%.
DAX Technical Levels
The index has an immediate resistance at 11144. Meanwhile, support is seen at 11k levels and 10850 levels.