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DAX trades marginally higher

FXStreet (Mumbai) - The German equity markets have gained marginally so far, tracking the strength in the Asian equity markets. The rise may remain capped as the US Equity markets ended flat yesterday, erasing their early gains.

The Dax is trading 0.22% higher at 8845, as the index recovers from the day’s low of 8808. Basic resource, Food and Beverage, and Media stocks have gained almost 1.5% each. On the other hand, Telecom stocks and Insurance stocks have declined by 0.5% each.

The markets have so far ignored the German CPI data released earlier today, which confirmed the CPI for September at 0.8%; in line with the preliminary estimate.

Dax Technical levels

The Dax has an immediate support of 8788 levels, below which prices can fall to 8700. On the flip side, the index can re-test 8875 levels if the immediate resistance of 8853 is taken out.

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