Daily Analysis DAX40 - 14 July 2023

European shares experienced a slight decline on Friday, although they were still on track to achieve their largest weekly percentage increase in more than three months. This optimistic outlook was fueled by expectations that the Federal Reserve would soon cease its interest rate hikes due to the alleviation of inflationary pressures.

Earlier this week, data regarding consumer and producer prices in the United States sparked speculation that the economy was entering a phase of disinflation, leading to the possibility of the Fed pausing its tightening measures shortly after July.

As the earnings season commences, luxury British retailer Burberry announced a notable 18% growth in sales revenue for the quarter ending on July 1.

The DAX faces a significant challenge of surpassing the 16,400 level. In the short term, the DAX remains bullish due to the prevailing risk-on sentiment in the markets, but Q2 earnings are awaited to confirm whether or not there will be more momentum.

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