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19 May 2015
DAX rallies, boosted by QE frontloading comments
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened with a sharp positive gap of nearly 100 points and rallied higher after comments from European Central Bank (ECB) officials that the central bank would front-load its asset purchase scheme in the next two months.
Currently, the DAX 30 trades 1.80% higher at fresh session 11800 levels, having previously posted fresh three week highs at 11841.30. The DAX kept gains after the release of downbeat German ZEW while Eurozone CPI print came in line with expectations.
The index is seen trading with a positive market breadth, the advance-decline ratio being 29:1. Volkswagen AG is the top gainer up 3.41% followed by Continental AG up 3.15%. While Merck KGaA is the sole loser on the index, down -1.86% on the day.
DAX Technical Levels
The index has an immediate resistance at 11885. Meanwhile, support is seen at 11675 levels and 11500 levels.
Currently, the DAX 30 trades 1.80% higher at fresh session 11800 levels, having previously posted fresh three week highs at 11841.30. The DAX kept gains after the release of downbeat German ZEW while Eurozone CPI print came in line with expectations.
The index is seen trading with a positive market breadth, the advance-decline ratio being 29:1. Volkswagen AG is the top gainer up 3.41% followed by Continental AG up 3.15%. While Merck KGaA is the sole loser on the index, down -1.86% on the day.
DAX Technical Levels
The index has an immediate resistance at 11885. Meanwhile, support is seen at 11675 levels and 11500 levels.