Daily Analysis DAX40 - 25 July 2023

On Tuesday, European stock markets exhibited little movement, hovering around the flat line. Investors were cautious as they awaited the US Federal Reserve and European Central Bank meetings scheduled for later in the week, where rate hikes were expected to be announced.

Moreover, traders reacted positively to China's commitment to strengthening its economy through increased policy support.

In terms of corporate performance, Unilever's quarterly sales figures exceeded expectations, providing a positive outlook. However, the markets were dealt a blow when German chemicals giant Bayer reduced its outlook.

Luxury stocks like LVMH and Richemont, which have significant exposure to the Chinese market, saw an increase of more than 1% each.

Remy Cointreau experienced a 5.0% gain after the French spirits group expressed confidence in a sharp sales rebound in the US from the third quarter.

As for the DAX, it remained around the 16,200 level. In the short term, the DAX's momentum remained bullish, and there might be a possible price concentration around the current resistance area of 16,200-16,400, which could indicate the formation of a reversal pattern.

Resi Level 3	Resi Level 2	Resi Level 1	Suppo level 1	Suppo level 2	Suppo level 3
16600	16400	16200	15650	15400	15200