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23 Jan 2015
DAX at record highs after Draghi’s QE bazooka
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened at record highs with a positive gap of 170 points in reaction to ECB's recent stimulus program.
Currently, the DAX 30 traded at 10578.50 levels, up 1.35%, having posted all time highs at 10619.80 levels earlier in the session. The DAX remained elevated on renewed market optimism after the European Central Bank's (ECB) newly-announced expanded asset purchases program in its yet another effort to spur growth in the Euro zone.
The index is seen trading with a positive market breadth with an advance decline ratio of 26:4. Among major gainers, BMW leads the index gaining 3.50% followed by adidas AG and Commerzbank AG climbing up by 2.47% to 3.31%.
DAX Technical Levels
The index has an immediate resistance at 10619. Meanwhile, support is seen at 10439 levels and 10235 levels.
Currently, the DAX 30 traded at 10578.50 levels, up 1.35%, having posted all time highs at 10619.80 levels earlier in the session. The DAX remained elevated on renewed market optimism after the European Central Bank's (ECB) newly-announced expanded asset purchases program in its yet another effort to spur growth in the Euro zone.
The index is seen trading with a positive market breadth with an advance decline ratio of 26:4. Among major gainers, BMW leads the index gaining 3.50% followed by adidas AG and Commerzbank AG climbing up by 2.47% to 3.31%.
DAX Technical Levels
The index has an immediate resistance at 10619. Meanwhile, support is seen at 10439 levels and 10235 levels.