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On October 25th, the U.S. federal government shutdown entered its 24th day. More and more federal employees forced to take unpaid leave are facing the dilemma of not being able to pay their bills or mortgages, and many are forced to queue up at food banks for assistance. Jacobs, president of the local CDC union, stated that both parties are using the livelihoods of federal employees as bargaining chips in political negotiations, and that the current chaotic situation is unprecedented.On October 25, Lizhong Group responded to investors on an interactive platform, saying that the second phase of the companys project to produce 3.6 million ultra-lightweight aluminum alloy wheels annually in Mexico, with an output of 1.8 million wheels, has now been put into initial production. The company is actively promoting the running-in of the production line and the release of production capacity, striving to achieve the goal of full production and sales as soon as possible.According to news on October 25, from January to September this year, the cumulative transaction volume of new houses in Foshan was 23,611 units and 2.8425 million square meters, which was lower than the transaction volume in the same period last year; but the cumulative transaction volume of second-hand houses was 40,990 units and 5.008 million square meters, an increase of 3.3% and 4.3% year-on-year respectively.On October 25, Russian Presidents Special Representative Kirill Dmitriev said during his visit to the United States on the 24th that he believed that all parties were "very close" to reaching a diplomatic solution to the Ukrainian issue, and Russia was open to Ukraine obtaining third-party "security guarantees" in the future.According to the Suzhou Release WeChat official account on October 25th, a series of events were held in Zhangjiagang High-tech Zone (Tangqiao Town) on the morning of October 24th, including the groundbreaking ceremony for the dishwasher smart manufacturing project of Xiaomis ecological chain company, Qingmei Technology; the opening of the Zhangjiagang High-tech Zone Cross-border Empowerment Center; and the signing of the personal care small appliance smart manufacturing project of Xiaomis ecological chain company, Xiaobei Technology. According to reports, the dishwasher smart manufacturing project of Xiaomis ecological chain company, Qingmei Technology, has a total investment of 500 million yuan, with a planned annual production capacity of 500,000 dishwashers. Upon reaching full production, it is expected to generate an annual output value of 800 million to 1 billion yuan. The personal care small appliance smart manufacturing project of Xiaomis ecological chain company, Xiaobei Technology, has a total investment of 500 million yuan. Upon reaching full production, it is expected to have an annual production capacity of 15 million units and an annual output value of 2.4 billion yuan.

WTI Price Analysis: During a Wyckoff markdown phase, $73.00 is anticipated for WTI

Alina Haynes

Feb 03, 2023 15:24

 截屏2023-01-13 下午5.17.06.png

 

West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) have refreshed their daily low at $75.80 in the early European session. The oil price is under pressure as western central banks have increased their interest rates in an effort to curb inflation. The asset is anticipated to test the Thursday low near $75.30.

 

After peaking at 101.55, the US Dollar Index (DXY) is displaying a mediocre performance and is awaiting the release of United States Nonfarm Payrolls (NFP) data for fresh impetus.

 

On a four-hour scale, the price of oil declined following a breakdown in Inventory Distribution. The distribution of inventory within a narrow band of $79.50-$82.67 shows a movement of inventory from institutional investors to retail participants. The asset is in Wyckoff's markdown phase after an inventory distribution breakdown and a flashback move to roughly $80.00.

 

At $78.65, the 50-period Exponential Moving Average (EMA) has behaved as a significant barrier for the oil price. The Relative Strength Index (14) oscillates within a negative band of 20.00-40.00, signaling further weakening.

 

After a steep loss, a pullback to near the 10-period EMA around $76.65 will be an ideal selling opportunity that will push the asset toward the bottom of February 2 at $75.15, followed by the horizontal support put at the low of January 5 at $70.00.

 

Alternativamente, a rebound move above the high of February 1 at $79.87 will propel the asset toward the low of January 23 at $81.19. A violation of this level would expose the asset to further gains reaching the January 18 high of $82.67.


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