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Goldman Sachs raised its target price for ASML from €1,770 to €2,000.Indias Trade Minister: India is increasing regulatory barriers with Japan to help expand exports.Hong Kong-listed Yingmei Holdings (02028.HK) surged over 110% in the afternoon.On July 2nd, Futures News reported that the situation in the Middle East improved this period, with the US and Iran reaching a memorandum of understanding. Affected by this, crude oil prices remained weak, with the change rate deepening into negative territory. According to Zhuochuang Informations calculations, as of the close of trading on July 1st, the crude oil change rate for the 9th working day was -19.31%, with gasoline and diesel prices expected to decrease by 855 yuan/ton. With only one working day left before the price adjustment window, there is a high probability of a significant reduction in retail prices of refined oil products at 24:00 on July 3rd. This reduction would be the first "three consecutive drops" this year, with a significant cumulative decrease, further reducing fuel costs for consumers as the summer vacation begins.On July 2nd, Minister Li Lecheng of the Ministry of Industry and Information Technology chaired a Party Group meeting on the afternoon of July 1st. The meeting emphasized the need to practice the people-centered development philosophy, follow the Partys mass line in the new era, formulate and implement the "15th Five-Year Plan" series for the industrial and information technology sectors, consolidate the steady and positive trend of the industrial economy, focus on improving the quality of the manufacturing supply system and the service level of the information and communication industry, earnestly address the urgent needs and concerns of the people, and strive to ensure that the people have a more substantial sense of gain, a more sustainable sense of happiness, and a stronger sense of security. The meeting stressed the importance of enhancing the ability to fight. It called for strengthening awareness of potential dangers, adhering to bottom-line thinking, carrying forward the spirit of struggle, shouldering heavy responsibilities, rising to challenges, and preventing and resolving risks and hidden dangers from all aspects. The meeting also emphasized strengthening the security protection of national critical information infrastructure, improving network and data security capabilities, and firmly safeguarding the bottom line of artificial intelligence security.

Natural Gas Prices Increase by Nearly 9% Ahead of the Inventory Report

Alina Haynes

Apr 28, 2022 10:26

Natural gas prices increased on Wednesday, ahead of the Department of Energy's Thursday inventory update. According to a poll conducted by crowdsourcing company Estimize, inventories are expected to increase by 36 Bcf. The weather is forecast to be mixed over the next two weeks, with chilly weather covering the northern states and warmer-than-average weather in the south.

 

Natural gas output in the United States continues to increase. According to the EIA, natural gas output in the United States climbed by 2% in 2021, reaching 118.8 billion cubic feet per day monthly in December 2021, the highest level on record. Appalachia, the Permian, and Haynesville all contributed to this surge, accounting for 59 percent of total withdrawals in 2021, up from 24 percent in 2011.

Technical Evaluation

On Wednesday, natural gas prices increased significantly. Prices breached resistance, which is now acting as support at the 10-day moving average of 7.05. Near the April highs of 8.06, the target resistance is visible. At 5.50, support is located at the 50-day moving average.

 

Momentum is negative but decelerating in the medium term. The MACD histogram is printing negative values with an upward trend, indicating consolidation. A crossover sell signal was generated by the MACD (moving average convergence divergence). The short-term momentum indicator has turned positive as a crossing buy signal was given by the fast stochastic.

 

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