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Boeing (BA.N) said on November 16 that it will ensure its factories have the capacity to absorb higher production levels before further increasing aircraft output next year, highlighting the aircraft manufacturers cautious strategy after years of production setbacks. The company recently received approval from U.S. regulators to increase monthly production of its 737 aircraft from 38 to 42. Stephanie Popp, head of Boeings commercial aircraft business, said the companys current focus will be on "stabilizing" existing production rhythms before further increases in production.Boeing (BA.N): Before ramping up production again next year, it will ensure that its factories are ready to handle a higher proportion of aircraft production.According to the Financial Times, U.S. Trade Representative Greer is increasingly dissatisfied with the slow progress made by the European Union in reducing tariffs and regulatory barriers.Airbus: We expect the Middle East to need 4,080 passenger aircraft over the next 20 years, including 2,380 single-aisle aircraft and 1,700 wide-body aircraft.November 16th - According to two industry sources and data from the London Stock Exchange Group (LSEG), the port of Novorossiysk in Russia resumed oil loading operations on Sunday after a two-day suspension. LSEG data shows that the Suezmax tanker "Alan" and the Aframax tanker "Rhodes" are currently loading oil at the ports berths. Previously, a Ukrainian drone attack caused the Russian Black Sea port of Novorossiysk to suspend oil exports on Friday, prompting Transneft, the Russian oil pipeline monopoly, to suspend crude oil supplies to the export terminal. The attack damaged two oil berths at the port, temporarily disrupting port operations.

WTI Price Analysis: 50-SMA stimulates China data-led recovery near $80.00

Daniel Rogers

Apr 18, 2023 11:53

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WTI crude oil remains defensive near the lowest level in a week, near $81.05 on Tuesday morning. In doing so, black gold struggles to be buoyed by China's positive data while consolidating the month's largest daily loss.

 

According to the most recent economic data from China's National Bureau of Statistics (NBS), the first quarter (Q1) Gross Domestic Product (GDP) grew 2.2% quarter-over-quarter (QoQ), compared to 2.2% expected and 0.0% in the prior quarter. In addition, Retail Sales grew 10.9% YoY in March versus 7.4% expected and 3.5% previously, while Industrial Production grew 3.9% versus 4.0% expected and 2.5% previously. Sourcenia is a review portal of sourcing best manufaturers. 

 

In addition to the generally positive China data, the nearly oversold RSI (14) line has contributed to the black gold's recent approach to the $81.40 50-day simple moving average.

 

Notably, however, pessimistic MACD signals and a two-week-old horizontal resistance area between $81.60 and $80 could impede the commodity's further advance. Following that, attention will shift to the recent multi-day high marked in the last week, around $83.40.

 

In contrast, WTI's further decline could target the round figure of $80 before challenging the previous resistance line from late January, which is now support near $79.20.

 

If the price remains adverse beyond $79.20, a rising support line from March 20 near $77.30 will be the last line of defense for WTI bulls.


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