9 Jun 2015
DAX slides below 11k, Greece talks weigh
FXStreet (Mumbai) - Germany’s benchmark index, the DAX dropped below 11k marker for the first time in three months, extending its downward spiral for the fourth straight session as markets sentiments were dampened by no progress seen in Greece debt talks.
Currently, the DAX 30 trades -1.18% lower at 10935.8 levels, languishing near fresh four month lows at 10922.50. The DAX extends its correction from record highs as a stronger euro coupled with looming Greece debt debate continues to remain a drag on the German stocks.
The index is seen trading with a negative market breadth, the advance-decline ratio being 5:25. Deutsche Lufthansa AG is the top gainer up 0.28%, followed by Bayer AG up 0.20%. While Infineon Technologies is down -2.62% on the day, followed by Fresenius Medical which is losing -1.30%.
DAX Technical Levels
The index has an immediate resistance at 11100. Meanwhile, support is seen at 10765 levels and 10600 levels.
Currently, the DAX 30 trades -1.18% lower at 10935.8 levels, languishing near fresh four month lows at 10922.50. The DAX extends its correction from record highs as a stronger euro coupled with looming Greece debt debate continues to remain a drag on the German stocks.
The index is seen trading with a negative market breadth, the advance-decline ratio being 5:25. Deutsche Lufthansa AG is the top gainer up 0.28%, followed by Bayer AG up 0.20%. While Infineon Technologies is down -2.62% on the day, followed by Fresenius Medical which is losing -1.30%.
DAX Technical Levels
The index has an immediate resistance at 11100. Meanwhile, support is seen at 10765 levels and 10600 levels.