MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

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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(N1) Fresh Trend High

WTI TECHS
  • RES 4: $72.70 - High Oct 15, 2018 (cont)
  • RES 3: $70.92 - 2.764 proj of Mar 23 - 30 - Apr 5 price swing
  • RES 2: $70.22 - 2.618 proj of Mar 23 - 30 - Apr 5 price swing
  • RES 1: $70.00 - Psychological round number and intraday high
  • PRICE: $69.09 @ 07:03 BST Jun 7
  • SUP 1: $67.02 - High May 18
  • SUP 2: $66.20 - 20-day EMA
  • SUP 3: $63.63/61.56 - Low May 24 / Low May 21
  • SUP 4: $60.55 - Low Apr 22 and key short-term support

WTI crude futures continue to defy gravity and the uptrend has extended once again today resulting in a test of the psychological $70.00 handle. A break of $70.00 would reinforce current trend conditions and open $70.22 and $70.92, Fibonacci projections. Key trend support has been defined at $61.56, May 21 low. A break is required to suggest a key short-term top. Initial support is at $67.02.

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