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DAX recovers after a gap-down opening

FXStreet (Mumbai) - The German equity index has inched higher after a gap down opening of 0.8%. The index now trades 0.04% higher at 8791 levels.

The Dax has been pulled by Basic resource stocks and Construction stocks which have gained 0.8% each. Meanwhile, the Midcap index is still trading down by 0.38%. Food and Beverage stocks, down by 3.62%, are the biggest losers today.

The German equity markets will take cues from the Bundesbank President Jens Weidmann's speech scheduled today.

Dax Technical levels

Dax has an immediate support of 8788 (Oct 10 low), below which the index can re-test today’s low of 8694.50. On the flip side, the index can test 8903 levels if the prices sustain above 8841 levels.

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