Daily Analysis DAX40 - 26 July 2023

European shares experienced a decline on Wednesday as investors assessed a range of corporate earnings, and there was a prevailing sense of caution in the markets ahead of the Federal Reserve's upcoming monetary policy decision.

Notably, Deutsche Bank faced a setback, with its shares slipping nearly 1% following a 27% decrease in second-quarter profit due to a significant drop in investment banking revenue.

Similarly, the French luxury group LVMH had an impact on the personal and household goods sector, witnessing a decline of 3.6% following the release of its half-yearly results.

In contrast, British aero-engineer Rolls-Royce witnessed a substantial surge of over 24%, claiming the top position in the index. This impressive gain, the largest since August 2021, was attributed to a trading update that raised its full-year operating profit forecast by approximately 45%.

Furthermore, French glass packaging producer Verallia emerged as the second-biggest gainer, enjoying a rise of over 10% in response to better-than-expected H1 results and an optimistic guidance hike.

DAX is coming back from the 16200 level. There is 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