Daily Analysis DAX40 - 18 July 2023

European futures are showing little change this morning, following a decline in Asian stocks due to weak Chinese economic data and a lack of stimulus, which have dampened market sentiment. Investors are eagerly awaiting U.S. retail sales figures to gain insights into the Federal Reserve's policy outlook. It's worth noting that the Fed, European Central Bank, and Bank of Japan will conduct policy reviews next week.

Additionally, market participants are closely monitoring the upcoming quarterly results this week, particularly from major U.S. banks such as Bank of America, Morgan Stanley, and Goldman Sachs, as they provide valuable information about the financial sector. Tesla's earnings report later this week is also drawing attention.

The DAX came back toward the 16,200 level. In the short term, the DAX maintains a bullish stance due to the prevalent risk-on sentiment in the markets. However, confirmation of further momentum awaits Q2 earnings results.

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