Daily Analysis DAX40 - 7 July 2023

European equity markets showed little change on Friday after a previous sell-off, with major indexes reaching multi-month lows. The sell-off was driven by concerns over inflation as strong US labor market data suggested the possibility of more aggressive measures by the Federal Reserve. Investors are now waiting for US non-farm payroll data and analyzing economic data from Europe. Germany's industrial production unexpectedly contracted in May, while UK house prices experienced a significant decline in June. In corporate news, Shell expects lower trading in its gas division for Q2, while Coca-Cola HBC raised its profit expectation for 2023.

The DAX experienced a significant selloff, like what occurred in Asian and US stocks. The DAX dropped below the 15,700 level and broke through a support level, indicating a potential downward move toward the 15,200 target.

Resi Level 3	Resi Level 2	Resi Level 1	Suppo level 1	Suppo level 2	Suppo level 3
16800	16600	16370	15650	15400	15200