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May 6th - The railways May Day holiday transport season, which began on April 29th, concluded today. According to the China State Railway Group, the eight-day national railway May Day holiday transport period saw approximately 158 million passenger trips, with several indicators setting new records. This years May Day holiday coincided with the spring break for primary and secondary school students across the country, resulting in strong demand for travel, family visits, and leisure activities. Railway passenger traffic remained high, with long-distance travel dominating at the beginning and end of the holiday and short-distance travel dominating in the middle.On May 6th, the State Administration of Radio and Television (SART) convened a mobilization meeting to address the issue of copyright infringement in the dissemination of television dramas. The meeting pointed out that copyright infringement in the dissemination of television dramas (including online dramas) seriously harms the legitimate rights and interests of producers and broadcasters, and undermines the healthy and sustainable development of the radio and television industry. SART, based on its industry management responsibilities, will work with the National Copyright Administration and other relevant regulatory departments to strengthen the primary responsibility of online platforms and focus on addressing the problem of copyright infringement of television dramas on illegal websites, browsers, search engines, and cloud storage services.On May 6th, at the 2026 Global Digital Cooperation Exchange Conference and Global Data Week, which opened in Shanghai, it was learned that under the guidance of the National Data Administration, Shanghai, as one of the first pilot cities for international cooperation in the data field, officially launched the Shanghai Comprehensive Pilot Program for International Cooperation in the National Data Field. This pilot program focuses on six major areas and 17 specific tasks, aiming towards 2030. Shanghai is committed to building a new international data cooperation system characterized by leading infrastructure, mutual recognition of rules, empowering platforms, and integrated scenarios. It closely adheres to releasing the value of data, promoting the digital economy, and advancing digital export services, creating a working pattern of "a new high-standard cross-border data foundation, a new high-quality system of mutual recognition of rules, a new high-level international cooperation platform, and a new highly collaborative export service ecosystem," exploring innovations for participating in global digital governance and promoting the convenient cross-border flow of data.May 6th, Futures News: Economies.com analysts latest view: Brent crude oil futures have continued to fall sharply in recent intraday trading, breaking below the short-term minor upward trend line. Although it has reached oversold levels, it may still fall further in the near term and may rebound with support at the 50-day moving average, thereby curbing the decline and potentially experiencing some upward rebound to recover some of the previous losses.May 6th Futures News: Economies.com analysts latest view: WTI crude oil futures prices fell in the latest intraday trading, breaking below the short-term uptrend line and the 50-day moving average support, exacerbating downward pressure and suggesting further declines in the short term, especially after losing key technical support levels. On the other hand, some positive signals are emerging; the Relative Strength Index (RSI) has begun to show a bullish crossover after reaching oversold levels, which may provide an opportunity for prices to stabilize or consolidate.

Natural Gas Prices Fall After Reaching New 13-Year Highs

Drake Hampton

Apr 13, 2022 10:14

Tips

  • Natural gas prices reached a new intraday high of 13 years.

  • Arrivals of natural gas at LNG terminals decreased.

  • The weather in the mid-West is forecast to be colder than typical.

 

Natural gas prices reached a 13-year high before whipsawing and settling down for the session. While demand continues to be strong, natural gas arrivals at LNG facilities decreased. Natural Gas Intelligence reports that arrivals were the lowest in two weeks. A snowstorm will dump considerable amounts of snow on the higher plains.

 

The weather in the mid-West is predicted to remain significantly colder than average over the next 6-10 days, then moderate slightly over the next 8-14 days, although still significantly colder than average. This scenario will result in an increase in the need for heating.

Technical Evaluation

Natural gas prices set a new intraday high, surpassing the previous 13-year record, but then whippedsawed as speculators took profits. Near the July 2008 highs of 13.68, the target resistance is visible. At 6.07, support is located near the 10-day moving average.

 

Short-term momentum has shifted negative as a crossing sell signal was triggered by the fast stochastic. Prices are excessively high. The fast stochastic is printing a reading of 85, which is above the overbought threshold of 80. Additionally, the RSI is reading 78, exceeding the overbought trigger threshold of 70.

 

The medium-term trend has shifted to the positive. The MACD (moving average convergence divergence) histogram is in positive territory with an upward sloping trend, indicating that the underlying price of natural gas is accelerating.

 

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