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February 23rd, Futures News: Economies.com analysts latest view: Brent crude oil futures prices have retreated, attempting to find a higher retracement low as a base to help them gain the necessary bullish momentum for a rebound and further gains. In the short term, the main bullish trend remains dominant, and prices continue to trade above the 50-day EMA, further enhancing the likelihood of a short-term rebound. Meanwhile, the Relative Strength Index (RSI), after digesting overbought conditions, has shown positive converging signals, providing strong support for Brent crude oil futures to achieve new gains.Despite the ban on European Central Bank staff receiving compensation, ECB President Christine Lagarde still received €140,000 from the Bank for International Settlements.Even as the US and Iran signaled their intention to negotiate, the risk of a US military strike against Iran remains. Russias Sputnik news agency reported on February 22 that, citing a former CIA operative, US media outlets stated that the US might launch a military strike against Iran on February 23 or 24.The China Earthquake Networks Center officially reported that a magnitude 3.3 earthquake occurred at 12:34 on February 23 in Yuli County, Bayingolin Mongol Autonomous Prefecture, Xinjiang (40.97 degrees north latitude, 84.31 degrees east longitude), with a focal depth of 18 kilometers.Former Bank of Japan board member Makoto Sakurai stated that if the yen weakens again before the expected Japan-US summit in March, the Bank of Japan could raise interest rates as early as March. Sakurai said, "Intervention in the exchange rate will only have a temporary effect on curbing yen selling pressure. The best way to deal with a weak yen is for the Bank of Japan to raise interest rates." Sakurai added that further yen depreciation would push up inflation by increasing import costs and offset some of the downward pressure from government fuel subsidies. He further added that if a significant yen depreciation is needed, the Bank of Japan could raise interest rates as early as March, citing the expectation of strong wage growth from companies and unions in the spring annual wage negotiations.

Natural Gas Prices Rebound After Weeks of Decline

Larissa Barlow

Apr 26, 2022 10:33

Natural gas prices recovered and finished higher following a 3.7 percent decline on Friday and an 8.5 percent decline for the week. LNG exports increased last week, and demand for LNG remains robust, as natural gas arrivals at LNG terminals continue to rise. For the next two weeks, the weather is forecast to be colder than typical.

 

The EIA reports that US LNG shipments increased by six vessels this week compared to last week. Between April 14 and April 20, 26 LNG shipments with a combined capacity of 97 Bcf exited the United States. This report week saw the most export cargoes exit the United States since the week of February 3–9, 2022.

Technical Evaluation

On Monday, natural gas prices increased. Prices rebounded near support near the October highs of 6.46. Near the 10-day moving average of 6.97, resistance is seen. Near the April highs of 8.06, the target resistance is visible.

 

The short-term momentum has flipped and become negative as a crossover sell signal was triggered by the fast stochastic.

 

The medium-term momentum is bearish. A crossover sell signal was given by the MACD (moving average convergence divergence). This occurs when the MACD line (the 12-day moving average minus the 26-day moving average) falls below the MACD signal line (the MACD line's 9-day moving average).

 

The MACD histogram is printed in negative zone with a downward trend, indicating that prices are falling.

 

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