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Irans Foreign Ministry: The United States attacked an Iranian merchant ship and demanded that the US release all crew members.On April 21, Zhang Yunming, Vice Minister of Industry and Information Technology, stated at a press conference held by the State Council Information Office that in the first quarter, the Ministry of Industry and Information Technology implemented the new round of work plans for stabilizing growth in ten key industries, focusing on optimizing and upgrading the production capacity structure. The raw materials industry achieved a good start, with a more robust transformation and a stronger industrial base. Going forward, the Ministry of Industry and Information Technology will thoroughly implement the deployment of the 15th Five-Year Plan, adhering to a combination of "strengthening the foundation" and "cultivating new growth," and strengthening overall planning and policy supply. On the one hand, it will focus on consolidating the foundation for upgrading traditional industries, promoting the optimization of existing production capacity and green and safe transformation; on the other hand, it will fully activate the innovation engine, accelerate the layout of cutting-edge materials and breakthroughs in key materials, providing more solid and reliable material support for developing new productive forces and promoting new industrialization.On April 21st, Futures News reported that as of April 20th, the mainstream closing price of benzene in East China was 8700 yuan/ton, a decrease of 160 yuan/ton from the previous trading day. Lower crude oil prices, coupled with lower international prices and better-than-expected March import figures, dampened market enthusiasm for price increases, leading to a lower price center. As prices fell to around 8650 yuan/ton, market buying interest picked up again. Looking ahead, as benzene prices rise, downstream price transmission resistance is increasing, but the lower prices are still expected to boost market buying interest, with downstream factories continuing to buy on dips. Renewed tensions in the Strait of Hormuz and a strong rebound in European and American crude oil futures suggest that market prices will remain relatively strong in the short term.On April 21, the State Council Information Office held a press conference to introduce the development of industry and information technology in the first quarter of 2026. Xie Cun, spokesperson of the Ministry of Industry and Information Technology and Director of the Information and Communications Development Department, said that in the next step, the Ministry of Industry and Information Technology will focus on creating an upgraded version of 5G+Industrial Internet, strengthen factor guarantees, accelerate the introduction of implementation opinions on promoting the high-quality development of industrial internet, coordinate the construction of network identification, platform data security and other projects, and strive to improve the development of the five major systems of policy, infrastructure, technology, application and ecosystem.On April 21, Al Jazeera reported that former U.S. Deputy Assistant Secretary for Arabian Peninsula Affairs Daniel Benaim stated in an interview: "The stepping stone to this war, the opportunity when the U.S. could have declared victory directly, may have appeared long ago, but we didnt seize it. We are now embroiled in an extremely complex military engagement and an extremely complex diplomatic game with Iran. Every objective set by the U.S. when launching the war against Iran has fallen far short of expectations. We talked about containing Irans nuclear program authoritatively for a long time. Certainly, some of these objectives could have been achieved without resorting to war."

E-mini NASDAQ-100: Trying to Form Bullish Reversal Bottom

Cameron Murphy

Apr 26, 2022 10:49


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Monday's mid-session E-mini NASDAQ-100 Index futures are down, although seeking to recoup some of their early losses. Fears about China's COVID-19 breakouts frightened investors already anxious about quicker U.S. interest rate rises denting economic growth, so the tech-weighted index prolonged its steep selloff from last week.


June E-mini NASDAQ-100 Index futures are trading at 13384.50, up 31.00 or 0.23 percent, at 17:20 GMT. This is an increase from the previous low of 13184.00. The Invesco QQQ Trust ETF (QQQ) is up $0.75, or 0.23 percent, to $326.15.


Investors were particularly nervous at the outset of a week that would see megacap firms such as Google parent Alphabet Inc, Microsoft Corp, Amazon.com Inc, and Apple Inc report quarterly results.


In mergers and acquisitions news, Twitter Inc jumped 3.9 percent after Reuters reported that it was prepared to accept Tesla Inc CEO Elon Musk's 'best and last' cash offer of $54.20 per share.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The continuation of the decline will be signaled by a trade through the intraday low of 13184.00. The major trend will turn to up if the price breaks over 14298.00.


12942.50 to 15268.75 is the short-term range. The market is now trading on the weak side of its retracement zone, which is resistance from 13831.25 to 14105.75.

Technical Forecast for the Daily Swing Chart

Trader response to 13353.50 will influence the direction of the June E-mini NASDAQ-100 Index entering Monday's closing.

Scenario that is bearish

The presence of sellers will be shown by a persistent rise below 13353.50. It will be a sign of weakness if the intraday low of 13184.00 is broken. Look for the selling to continue towards the March 15 major low around 12942.50 if this move develops adequate negative momentum.

Possibilities for Growth

The presence of buyers will be signaled by a persistent advance over 13353.50. Look for a late-session push towards the short-term retracement zone of 13831.25 – 14105.75 if this move creates enough upward momentum.

Notes on the Side

A daily closing price reversal bottom will be formed if the price closes above 13353.50. If this is verified, a minimum 2- to 3-day corrective rally might begin.