8 Jul 2015
DAX recovers from 5-month lows, Greece – in focus
FXStreet (Mumbai) - Germany’s benchmark index, the DAX swung between gains and losses in the mid-European trades, shaving off mild losses, as markets remain nervous ahead of the Euro group meeting scheduled later today while Athens still has time until Thursday to present new plans that could save the country and prevent a 'Grexit'.
Currently, the DAX 30 trades 0.13% higher at 10692.80 levels, retreating from fresh five month lows reached at 10654.50. German stocks defended mild gains as markets continue to digest the latest developments surrounding Greece, while the latest comments from Tsipras, while addressing the EU parliament, also keeps markets hopeful for a Greek deal.
The index trades with a negative market breadth with the advance-decline ratio being 1:29. Beiersdorf AG is the sole gainer, up 0.30%. On the other hand, BMW AG is the top loser so far, down -5.18%, followed by Daimler AG which is losing -4.22%.
DAX Technical Levels
The index has an immediate resistance at 10800. Meanwhile, support is seen at 10594 levels and 10460 levels.
Currently, the DAX 30 trades 0.13% higher at 10692.80 levels, retreating from fresh five month lows reached at 10654.50. German stocks defended mild gains as markets continue to digest the latest developments surrounding Greece, while the latest comments from Tsipras, while addressing the EU parliament, also keeps markets hopeful for a Greek deal.
The index trades with a negative market breadth with the advance-decline ratio being 1:29. Beiersdorf AG is the sole gainer, up 0.30%. On the other hand, BMW AG is the top loser so far, down -5.18%, followed by Daimler AG which is losing -4.22%.
DAX Technical Levels
The index has an immediate resistance at 10800. Meanwhile, support is seen at 10594 levels and 10460 levels.