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The head of the Iranian Red Crescent stated that since the US and Israel launched attacks on Iran, a total of 6,668 civilian facilities across the country have been attacked.On March 7th, Liu Dechun, Director of the Social Development Department of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan makes a series of arrangements in education, healthcare, and social security. In education, the plan aims to increase the average years of schooling for the working-age population by another 0.4 years, from the current 11.3 years to 11.7 years. Among these, basic education will focus on expansion and quality improvement. The plan includes comprehensively promoting the high-quality and inclusive development of preschool education, the high-quality and balanced development of compulsory education, steadily expanding the scope of free education, exploring the extension of compulsory education years, and constructing, renovating, or expanding 1,000 high-quality general high schools.On March 7th, Yuan Da, Secretary-General of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan focuses on accelerating the comprehensive green transformation of economic and social development, emphasizing the establishment of "one mechanism" and the implementation of "three tasks." These three tasks will be developed in depth around three aspects: accelerating the shift of energy towards new and green technologies, reducing carbon emissions and increasing green production, and improving efficiency in production and daily life. Specifically, accelerating the reduction of carbon emissions and increasing green production involves two aspects: First, increasing energy consumption by vigorously developing green and low-carbon technologies and industries, orderly promoting the transfer of eligible high-energy-consuming industries to areas rich in renewable energy resources, establishing approximately 100 national-level zero-carbon industrial parks, and planning and laying out more than 10,000 kilometers of zero-carbon transportation corridors. Second, reducing energy consumption by deeply implementing major energy-saving and carbon-reduction transformation projects in key industries, accelerating the elimination of outdated and inefficient production capacity, effectively managing high-energy-consuming and high-polluting projects, promoting low-carbon substitution of transportation power, and improving energy efficiency in emerging fields such as computing facilities and 5G base stations.On March 7th, Yuan Da, Secretary-General of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan dedicates a separate chapter to this work, proposing to "enhance Chinas ability to manage the ocean, accelerate the construction of a maritime power, and forge a path of maritime strength with Chinese characteristics." The plan emphasizes innovation-driven development and accelerating self-reliance in marine science and technology. It calls for strengthening strategic marine science and technology capabilities, accelerating breakthroughs in key core technologies and equipment, and creating more "national strategic assets." It also aims to improve the marine science and technology innovation ecosystem, promote the digital and intelligent transformation of the marine sector, and advance the development of marine education, science, and technology talent. Furthermore, it prioritizes industrial upgrading, strengthening, optimizing, and expanding the marine industry. Given that my countrys shipbuilding and marine engineering equipment, marine fisheries, and offshore wind power industries are already the worlds largest, China will further consolidate and enhance its advantages in marine equipment manufacturing, cultivate and expand emerging industries such as marine biomedicine, improve the development level of modern shipping, marine tourism, and other service industries, and accelerate the efficient utilization of marine energy resources.On March 7, Chen Lei, Director of the Development Strategy and Planning Department of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that in terms of new infrastructure, efforts will be strengthened to promote overall planning and efficient utilization. A number of strategically oriented, application-supporting, and forward-looking major scientific and technological infrastructures will be systematically planned and constructed. The deployment and application of 10-gigabit optical networks and the large-scale commercial use of 5G-A mobile communication networks will be promoted. A nationwide integrated computing power network will be built, and satellite communication, navigation, and remote sensing systems will be constructed in a coordinated manner. Low-altitude infrastructure will be built with scenario expansion as the driving force, thereby providing solid support for industrial upgrading and digital development during the 15th Five-Year Plan period and even longer.

Natural Gas Price Analysis: The XNG/USD pair retreats to $2.24 within the immediate bearish channel

Daniel Rogers

Apr 17, 2023 13:46

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During the early hours of Monday, the price of Natural Gas (XNG / USD) pares intraday gains of about $2.33. In doing so, the energy asset retreats from a three-week-old bearish channel's upper line.

 

However, the bullish MACD signals and convergence of the 21-SMA and 50-SMA around $2.24 limit the XNG/USD's immediate downside.

 

In the event that the price of Natural Gas falls below $2.24, the stated channel's support around $2.11 will be crucial to monitor, as it will be the lowest point since August 2020 from which the price of XNG and USD has previously rebounded.

 

If the quote remains bearish beyond $2.11, the possibility of a decline toward the $2.00 round number cannot be ruled out. However, the peak near $1.95 in July 2020 could pose a threat to Natural Gas Bears in the future.

 

In contrast, a clear breach of the stated channel's upper line, near $2.35, is not an open invitation for the XNG/USD bulls, as the 200-SMA hurdle near $2.44 can act as the Natural Gas bears' last line of defense.

 

Even if the commodity price remains firmer beyond $2.44, the mid-March swing low near $2.48 and the $2.50 round number can act as additional upside filters before Natural Gas purchasers gain control.