DAX falls further into red, below 9900 mark

FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened with a negative gap of 47 points and dived deeper tracking lower European counterparts and plunging oil prices.

Currently, the DAX 30 trades lower at 9860.30 levels, down -0.67%, compared to previous session’s close of 9927.13. The DAX edged lower amid risk-off moods as traders sought to close positions ahead of the year-end holidays. The index also dropped as traders continue to weigh the situation in Greece as well as another slump in oil prices.

The index is trading with a negative market breadth with an advance decline ratio of 6:24. Fresenius SE & Co KG and RWE AG are top losers on the index, each losing over 1%. Among the major gainers, Deutsche Lufthansa AG, Commerzbank AG and Infineon Technologies AG moved up 0.5% to 1.60%

DAX Technical Levels

The index has an immediate resistance at 9907.82 (Dec 11 High), above which gains could be extended to 10k levels. Meanwhile, support is seen at 9763.41 (Dec 11 Low) and 9669.80 (Dec 18 Low) levels.