MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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(K4) Corrective Pullback

WTI TECHS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBulletEnergy Technical Analysis
  • RES 4: $91.15 - 2.236 proj of the Jan 3 - 29 - Feb 5 price swing
  • RES 3: $90.00 - Psychological round number
  • RES 2: $89.08 - 2.00 proj of the Jan 3 - 29 - Feb 5 price swing
  • RES 1: $87.67 - High Apr 11
  • PRICE: $84.82 @ 07:16 BST Apr 17
  • SUP 1: $84.01 - 20-day EMA
  • SUP 2: $81.06/76.43 - 50-day EMA / Low Mar 11
  • SUP 3: $71.52 Low Feb 5
  • SUP 4: $70.02 - Low Jan 3

A bull theme in WTI futures remains intact and the latest move lower is considered corrective - for now. Recent gains reinforced current bullish conditions and confirmed a resumption of the uptrend. The contract has breached $84.87, the Sep 15 ‘23 high, paving the way for a climb towards the $90.00 handle further out. The next objective is $89.08, a Fibonacci projection. Initial firm support to watch lies at $84.01, the 20-day EMA.

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  • RES 4: $91.15 - 2.236 proj of the Jan 3 - 29 - Feb 5 price swing
  • RES 3: $90.00 - Psychological round number
  • RES 2: $89.08 - 2.00 proj of the Jan 3 - 29 - Feb 5 price swing
  • RES 1: $87.67 - High Apr 11
  • PRICE: $84.82 @ 07:16 BST Apr 17
  • SUP 1: $84.01 - 20-day EMA
  • SUP 2: $81.06/76.43 - 50-day EMA / Low Mar 11
  • SUP 3: $71.52 Low Feb 5
  • SUP 4: $70.02 - Low Jan 3

A bull theme in WTI futures remains intact and the latest move lower is considered corrective - for now. Recent gains reinforced current bullish conditions and confirmed a resumption of the uptrend. The contract has breached $84.87, the Sep 15 ‘23 high, paving the way for a climb towards the $90.00 handle further out. The next objective is $89.08, a Fibonacci projection. Initial firm support to watch lies at $84.01, the 20-day EMA.