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On March 18th, Chery Automobile (09973.HK) announced that its revenue for 2025 will reach RMB 300.287 billion, a year-on-year increase of 11.3%; net profit for the year will be RMB 19.507 billion, a year-on-year increase of 36.1%; and net profit margin will be 6.5%, compared to 5.3% in the same period last year. The Board of Directors has resolved to recommend a final cash dividend of RMB 0.86 per share (inclusive of tax) for the current year.Geely Automobile (00175.HK): Sales target for 2026 is 3.45 million vehicles.Geely Automobile (00175.HK) expects its full-year revenue in 2025 to be RMB 345.23 billion, compared with RMB 240.2 billion in the same period of the previous year.March 18th - Geely Automobile (00175.HK) announced that its sales volume for 2025 will reach 3.0246 million vehicles, a year-on-year increase of 39%; revenue will reach RMB 345.232 billion, a year-on-year increase of 25%. Profit attributable to owners of the parent company will be RMB 16.852 billion, basically flat compared to last year. The board of directors recommends a final dividend of HKD 0.50 per ordinary share, a year-on-year increase of 52%.On March 18th, the Department of Energy Conservation and Comprehensive Utilization of the Ministry of Industry and Information Technology (MIIT) convened a symposium on the comprehensive utilization of waste tires on March 17th, 2026. Representatives from relevant industry associations, research institutions, and key enterprises attended the meeting. At the meeting, participants focused on tire retreading, recycled rubber, rubber powder, and pyrolysis, introducing the current domestic and international development status of the waste tire comprehensive utilization industry, the innovative application of process technology and equipment, digital transformation, the construction of standard systems, and the promotion and application of recycled products. They analyzed and assessed the opportunities and challenges facing the industrys development during the 15th Five-Year Plan period and proposed policy recommendations to promote the high-quality development of waste tire comprehensive utilization in my country. Next, the Department of Energy Conservation and Comprehensive Utilization will conduct in-depth research on the waste tire comprehensive utilization industry, further strengthen policy guidance, improve relevant standard systems, strengthen industry regulation and management, increase the promotion and application of advanced technologies, and continuously improve the level of waste tire comprehensive utilization.

Natural Gas Price Futures (NG) Technical Analysis - Strengthens Above $8.085, Fails Below $7.786

Alina Haynes

May 16, 2022 11:10

 截屏2022-05-16 上午10.21.48.png

 

On Friday, U.S. natural gas futures settled lower due to projections of milder temperatures and reduced demand over the next two weeks.

 

A decrease of 3 percent in European gas futures also weighed on prices. As a result of sanctions and the closure of a pipeline in Ukraine, Russia's exports have decreased, which explains Europe's weakness.

 

Futures contracts for natural gas in July settled on Friday at $7.765, down $0.070, or 0.89 percent. The United States Natural Gas Fund ETF (UNG) closed the day at $26.27, down $0.21, or -0.79%.

 

In yet another unexpected turn of events, U.S. prices plummeted despite the fact that Texas is preparing for a heat wave that will increase demand for electricity to run air conditioners early the following week.

Technical Analysis of Daily Swing Chart

According to the daily swing chart, the primary trend is to the downside. Last week, sellers broke a pair of major bottoms at $6.919 and $6.557, reversing the trend.

 

A transaction above $6.521 will indicate a continuation of the downturn. A rise above $9.052 will result in a transition to an upward trend.

 

The range for the next month is $9.052 to $6.521. Its retracement zone between $7.786 and $8.085 halted Friday's rebound at $8.022.

 

The primary range is $3.515-2.052 The important support zone is between $6.283 and $5.630, which is the retracement zone.

Technical Forecast

The trajectory of the July natural gas futures market will be dictated by traders' reactions to $7.786 at the start of trading on Monday.

Positive Scenario 

A prolonged advance above $7.786 will show buyer presence. The initial upside objective is a short-term Fibonacci level located at $8.085. This is a potential trigger for an acceleration to the upside, with $9.052 being the probable next upside objective.

Bearish Prediction

A persistent move below $7.786 will indicate the existence of sellers. If this move develops sufficient momentum to the downside, then watch for the selling to extend to a minor pivot at $7.272.

 

Be on the lookout for a technical rebound on the initial test of $7.272 as countertrend buyers attempt to construct a potentially bullish secondary higher bottom. If this level fails as support, selling might extend to the major support level at $6.521, followed by the retracement zone target of $6.283 to $5.630.


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