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DAX falls almost 1%

FXStreet (Mumbai) - The German blue-chip index, Dax, retreated almost 1% after rallying to a fiver week high earlier this week.

The Dax is trading 0.98% lower at 9277.50 levels, compared to the previous session’s close of 9369. The index breadth is extremely negative with an advance decline ratio of 2:28. Moreover, the index is being hit hard by losses in share prices of Continental AG, Daimler AG, Commerzbank AG, Lanxess AG, and BMW ST.

Among sectors, Food and Beverage retreated 1.87%, while Telecom is down 1.11%. Meanwhile Basic Resources sector and utilities sector is up 0.15% and 0.21% respectively.

DAX Technical Levels

The index has an immediate support at 9274, under which the prices may fall to 9210 levels. On the flip side, resistance is seen at 9310 and 9350 levels.

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