EU AUTOMOTIVE: Volkswagen (VW): FY25 Prelim Cash Flow        

• RES 4: 7021.79 0.618 proj Nov 21 - Dec 11 - 18 price swing   
• RES 3: 7014.00 High Oct 30 and the bull trigger
• RES 2: 6988.00 High Dec 11
• RES 1: 6936.25 Intraday high    
• PRICE: 6925.00 @ 07:25 GMT Dec 23
• SUP 1: 6835.96/6771.50-day EMA / Low Dec 18
• SUP 2: 6737.71 61.8% retracement of the Nov 21 - Dec 11 rally 
• SUP 3: 6678.58 76.4% retracement of the Nov 21 - Dec 11 rally
• SUP 4: 6583.00 Low Nov 21  

The recent pullback in S&P E-Minis appears to have been a correction. A key short-term support has been defined at 6771.50, the Dec 18 low. A break of this level would signal scope for a deeper retracement of the recent bull phase between Nov 21 - Dec 11. This would open 6737.71, a Fibonacci retracement. For bulls a stronger resumption of gains would refocus attention on key resistance at 7014.00, the Oct 30 high.

• RES 4: $70.16 - High Jun 23 and a key medium-term resistance 
• RES 3: $64.97 - High Sep 26
• RES 2: $61.25 - High Oct 24 and a key resistance  
• RES 1: $58.71 - 50-day EMA    
• PRICE: $57.83 @ 07:17 GMT Dec 23
• SUP 1: $54.89 - Low Dec 16
• SUP 2: $54.71 - Low Apr 9 and a key support
• SUP 3: $53.77 - 1.764 proj of the Jul 30 - Aug 13 - Sep 26 price swing
• SUP 4: $52.27 - 2.000 proj of the Jul 30 - Aug 13 - Sep 26 price swing   

The trend condition in WTI futures remains bearish and short-term gains are considered corrective. MA studies are in a bear-mode position, highlighting a dominant downtrend. A key support and the bear trigger at $56.11, the Oct 17 low, has been breached. Clearance of this level resumes the downtrend and opens $53.77, a Fibonacci projection. Key short-term resistance to watch is $61.25, the Oct 24 high. First resistance is at $58.71, the 50- day EMA.

• RES 4: $4578.3 - 1.618 proj of the Oct 28 - Nov 13 - Nov 18 swing
• RES 3: $4536.0 - 1.500 proj of the Oct 28 - Nov 13 - Nov 18 swing 
• RES 2: $4500.0 - Round number resistance 
• RES 1: $4497.7 - Intraday high                    
• PRICE: $4482.9 @ 07:16 GMT Dec 23 
• SUP 1: $4259.9 - 20-day EMA 
• SUP 2: $4170.3 - Low Dec 9 
• SUP 3: $4128.6 - 50-day EMA 
• SUP 4: $3998.1 - Low Nov 18

The trend structure in Gold is unchanged, it remains bullish and another fresh cycle high reinforces current conditions. The break higher confirms a resumption of the primary uptrend. The metal has traded through the psychological $4400.0 handle and this opens $4500.0 next, ahead of $4536.0, a Fibonacci projection. Initial firm support to watch lies at $4259.9, the 20-day EMA. A pullback would be considered corrective.