DBD Strategy Daily - AUTO SUPPLIERS: short-term supports, but not yet medium-term buy
US markets closed their short-term bearish gap, and they look like they will soon shrug off recent losses. Are trade war concerns to be disregarded? The Automotive sector in Europe has been leading most other sectors on the way down. Suppliers are reaching first supports, they may bounce for a few days, but for the time being, we cannot say that those are medium-term buying opportunities. The only exception is Plastic Omnium. The medium-term bullish trend has not been interrupted, prices are bouncing off the major support.
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