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Both WTI and Brent crude oil prices rose by about $0.80 in the short term, currently trading at $94.93/barrel and $95.67/barrel respectively.Futures News, May 26th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 207,266 tons, an increase of 2,933 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 957 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,560 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 471 tons. 6. Petroleum asphalt futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 31,220 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,511,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.On Tuesday, May 26, the German DAX 30 index opened down 43.58 points, or 0.17%, at 25,350.35; the UK FTSE 100 index opened up 61.94 points, or 0.59%, at 10,528.20; and the French CAC 40 index opened down 22.64 points, or 0.27%, at 8,235.62. The Stoxx 50 index opened down 13.01 points, or 0.21%, at 6123.65 on Tuesday, May 26; the Spanish IBEX 35 index opened up 12.58 points, or 0.07%, at 18399.98 on Tuesday, May 26; and the Italian FTSE MIB index opened down 166.85 points, or 0.33%, at 50053.50 on Tuesday, May 26.At the close of trading on the 26th, apart from the Guolian An SSE Commodity ETF (up 1.63%) and the Huaxia Feed Soybean Meal Futures ETF (up 0.19%), commodity funds such as the Jianxin Energy and Chemical Futures ETF, Southern Shanghai Gold ETF, E Fund Gold ETF, and Bosera Gold ETF all declined. Among them, the Guotou UBS Silver Futures (LOF) fell 1.8%.According to Futures News on May 26, as of 15:00 Beijing time, spot platinum fell 0.67% and spot palladium fell 1.33%.

E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Showing Early Signs of Closing Price Reversal Bottom

Skylar Shaw

May 11, 2022 11:18

Risk appetite seemed to be heating up again following Monday's severe sell-off, with June E-mini S&P 500 Index futures trading higher at the cash market start on Tuesday, although concerns over economic growth weighed on mood.


A combination of monetary tightening by major central banks and a slowdown in economic growth has fuelled this month's shattering collapse in the benchmark index.


June E-mini S&P 500 Index futures were trading at 4048.75 at 13:30 GMT, up 51.25 or 1.54%. The S&P 500 Trust ETF (SPY) closed at $398.23 on Monday, down $13.11 or -3.19 percent. Based on the behavior of the futures market, traders anticipate a higher opening.


The index's overnight bounce was most likely a technical response to the market's first dip below the 4000.00 barrier since March 2021. As the market moved, it reached many oversold oscillator levels, attracting bottom-pickers.


Investors may also be adjusting their holdings ahead of Wednesday's important Consumer Price Index (CPI) release in the United States.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the primary trend is down, but the market is displaying signals of a change in momentum. A move through 3961.75 marks the start of a new downtrend, while a move through 4303.00 marks the start of a new uptrend.


4303.00 to 3961.75 is the minor range. The closest resistance is around 4132.50 to 4172.75, which is the retracement zone.


4509.00 to 3961.75 is the short-term range. Its 50% level of 4235.50 serves as extra resistance.

Technical Forecast for the Daily Swing Chart

Trader response to 3987.50 is expected to influence the direction of the June E-mini S&P 500 Index on Tuesday.

Positive Outlook

The presence of buyers will be shown by a prolonged advance over 3987.50. We might witness a burst through the minor 50 percent mark at 4132.50 if this move creates enough upward momentum. On the first challenge of this level, sellers are likely to enter. If it fails to hold as support, the Fibonacci level at 4172.75 is likely to be tested.

Bearish Prospects

The presence of sellers will be shown by a persistent move below 3987.50. This may result in a retest of the intraday low of 3961.75. If this level is not held, the selling might continue till the primary bottom at 3904.75 on March 30, 2021.

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