AUTOMOTIVE: Stellantis (STLA Baa1[N]/BBB/BBB): 1Q25 Sales Headlines

• RES 4: $78.96 -  High Jan 15 and a reversal trigger  
• RES 3: $76.26 - High Feb 20 and a bull trigger 
• RES 2: $74.32 - High Feb 25
• RES 1: $73.49 - High Mar 26           
• PRICE: $72.72 @ 07:09 BST Mar 31   
• SUP 1: $69.51/67.95 - Low Mar 19 / 5 and the bear trigger  
• SUP 2: $67.87 - Low Sep 10 ‘24 and a key medium-term support
• SUP 3: $66.55 1.618 proj of the Jan 15 - Feb 4 - 20 price swing
• SUP 4: $64.26 2.000 proj of the Jan 15 - Feb 4 - 20 price swing

Brent futures are holding on to its recent highs. For now, short-term gains are considered corrective. However, price has breached the 50-day EMA, at $72.43. The clear break of this average signals scope for a stronger recovery and opens $74.32 next, the Feb 25 high. Moving average studies remain in a bear-mode position highlighting a dominant downtrend. The bear trigger lies at $67.95, the Mar 5 low.

• RES 4: 5896.39 50-day EMA 
• RES 3: 5837.25 High Mar 25 and a key resistance    
• RES 2: 5778.68 20-day EMA
• RES 1: 5651.25 Low Mar 21                       
• PRICE: 5584.50 @ 07:02 BST Mar 31  
• SUP 1: 5574.25 Intraday low                   
• SUP 2: 5559.75 Low Mar 13 and the bear trigger 
• SUP 3: 5483.50 2.00 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing
• SUP 4: 5396.00 2.236 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing         

S&P E-Minis traded sharply lower Friday and the contract maintains a softer tone. Attention is on key support and the bear trigger at, 5559.75, the Mar 13 low. A break of this level would confirm a resumption of the downtrend that started Feb 19, and open 5483.30, a Fibonacci projection. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Key short-term resistance has been defined at 5837.25, the Mar 25 high. 

Sovereign rating reviews of note from after hours on Friday include:

• S&P affirmed the Czech Republic at AA-; Outlook Stable
• Scope Ratings affirmed the United Kingdom at AA; Outlook Stable