EUR/USD 1.16634
0.167%
Gold 3955.75
-0.637%
Oil 59.823
-2.472%
USD/JPY 152.015
-0.561%
GBP/USD 1.32820
-0.391%
GBP/JPY 201.911
-0.945%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Nvidia CEO Jensen Huang: The United States needs more energy to maintain industry growth.On October 29th, Nvidia (NVDA.O) CEO Jensen Huang dismissed concerns about an artificial intelligence bubble on Tuesday, stating that the companys latest chips will generate $500 billion in revenue over the next five quarters. At the GTC conference in Washington, Huang highlighted the companys Blackwell processors and the next-generation Rubin model as driving unprecedented sales growth. The conference highlighted the companys collaborations with companies like Uber, Palantir, and CrowdStrike to integrate AI into various products. Nvidia also unveiled a new system connecting quantum computers with AI chips. "Weve reached a turning point in this virtuous cycle," Huang told thousands of attendees at a convention center near the White House. "This is truly extraordinary." Huangs speech centered on the AI industrys turning point, arguing that current AI models are powerful enough that customers are willing to pay for them, justifying the expensive construction of computing infrastructure. This view alleviated market concerns about an AI investment bubble, sending Nvidias stock price up over 5% on Tuesday, pushing it above $200 for the first time.On October 29th, a federal judge further blocked the Trump administrations plan to lay off thousands of federal employees during the nearly month-long partial government shutdown. At a hearing in San Francisco, U.S. District Judge Susan Illston extended a temporary ruling that barred nearly 40 federal agencies from implementing layoffs pending the outcome of a legal case filed by unions representing federal employees. Previously, on October 15th, a federal judge in San Francisco ordered the Trump administration to halt layoffs for now during the shutdown.Nvidia CEO Jensen Huang: The $500 billion figure mentioned in the keynote speech corresponds to the scale of five quarters.The three major U.S. stock indexes rose, with the Nasdaq up more than 1%, the S&P 500 up 0.43%, and the Dow Jones Industrial Average up 0.57%.

Natural Gas Price Analysis: Breakout of the 21-DMA sustains bullish XNG/USD sentiment near $2.35

Daniel Rogers

Apr 12, 2023 13:39

 截屏2023-01-19 下午3.42.24.png

 

Natural Gas (XNG/USD) maintains modest gains near $2.36 as bulls maintain control over a three-day uptrend as of early Wednesday. Consequently, XNG/USD investors applaud an unambiguous break of the 21-DMA near the highest levels in three weeks.

 

Bullish MACD signals, sustained trading above the 10-DMA, and the upside of the 21-DMA all contribute to the optimism of Natural Gas buyers.

 

Nonetheless, intraday XNG/USD investors are attracted by the late-March trade high near the $2.40 round number. However, a convergence of numerous levels marked since early March and the 50-day simple moving average (around $2.47-48), followed by the $2.50 threshold, could limit the energy instrument's upside potential.

 

If the XNG/USD remains stronger than $2.48, the March 14 high around $2.75 will be in focus.

 

Alternately, Natural Gas sellers require confirmation from the 21-DMA support at $2.31 in order to revisit the 10-DMA support near $2.25.

 

Notably, the lows recorded since late February emphasize $2.13-12 as the key strong downside support for the XNG/USD bulls to overcome if they wish to reach the high near $1.95 in early July 2020.

 

Overall, the price of Natural Gas regains its upward momentum, but further gains appear constrained to the north.


Suggestion