Daily Analysis DAX40 - 1 Aug 2023

European stocks slipped on Tuesday as weak factory activity data from Asia and some disappointing earnings stalled a rally in markets that had pushed several regional indexes to multi-year highs recently.

Asia's factory activity shrank in July, private surveys showed, a sign slowing global growth and weakness in China's economy was taking a toll on the region's fragile recovery. Eurozone factory surveys are due later in the day. Among companies that reported, DHL Group DHL fell 3% after the freight forwarder reported a slump in quarterly earnings as high inflation, the war in Ukraine and the ongoing energy crisis weighed on consumer demand and freight rates.

The main news in Europe is from earnings, with oil giant BP boosting its dividend despite a 70% fall in profit and HSBC launching a $2 billion buyback after profit beat forecasts.

DAX signaling a possible comeback as economic activity and economic data don’t show positive results and the possibility of a recession is growing even if yesterday's GDP in Europe was positive for the last quarter. The last support level is around 16220.

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