European carmakers

BMW: bounced back from key support and is in an upward channel.
Daimler: broke key support and it is forming a potential double bottom.
VW: broke key supports. Little follow through after the second break, now it is consolidating.
Renault: broke key support and it is consolidating.
Peugeot: broke out from a long term channel and reached a measured move target that acts as a resistance now.
Fiat: the pass away of the CEO pushed the priced down to the January low key support level.
Peugeot/BMW shrinking spread is something to consider.

DAX is near major resistance

This is the June 28 low and also a measured move target. I wouldn't call it support now.

German car-makers are bid up

Merkel endorsement of diesel engines lifted BMW, DAI and VOW shares. DAI is the best performer today, but BMW technically looks a bit better. The big question is what surprises the cartel scandal still has to offer. On the other hand, I'm sure that German politics would do everything to protect the battered industry, and we should not underestimate the power of that.