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According to TASS, Russian air defense systems shot down 57 Ukrainian drones last night.On November 16, it was reported that Li Baian, former member of the Party Committee and Vice President of China Merchants Group Limited, is suspected of serious violations of discipline and law and is currently under disciplinary review and supervisory investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission.On November 16th, according to the Finnish newspaper Helsingin Sanomat, European Central Bank (ECB) Governing Council member Rehn stated that the risk of slowing inflation should not be ignored. Low energy prices, a stronger euro, and declining wage and service sector inflation all suggest that overall inflation may be excessively below the ECBs 2% target. When asked if the ECB might cut interest rates again in December, Rehn said, "This risk cannot be underestimated." However, he also cautioned against the potential for rising inflation. Rehn stated that despite the Trump administrations tariff policies disrupting global trade, the Eurozone economy has shown resilience. Rehn also warned that the stock market "clearly faces the risk of a correction," emphasizing the importance of bank capital buffers. Driven by the US artificial intelligence boom, current stock prices appear high relative to the performance of the real economy and corporate profits. This requires caution.On November 16th, it was reported that the United States and Trinidad and Tobago are about to conduct military exercises in waters near the coast of Venezuelas Sucre state. On November 15th, Venezuelan President Maduro strongly condemned the exercises, calling the action "irresponsible" and a "threat" to peace in the Caribbean. Maduro stated that such actions are intended to put pressure on Venezuela, but Venezuela "will not be threatened by anyone." Recently, Trinidad and Tobagos Attorney General John Jeremy stated that the 22nd Marine Expeditionary Unit will be "intensifying exercises" in the country "in the coming days."1. Hungarian Prime Minister: Europe is on the brink of war. 2. Ukraine claims 1,200 Ukrainian prisoners will be released; Russia has not yet responded. 3. Russian Ministry of Defense: Russian troops have taken control of the Yablokovo settlement in Zaporizhia. 4. Ukrainian President Zelenskyy has ordered a comprehensive reform of state-owned energy companies. 5. According to RIA Novosti: The situation remains stable after an external power line to the Zaporizhia nuclear power plant was shut down. 6. Southern Ukrainian Defense Forces: Ukrainian troops have conducted a tactical withdrawal from the town of Novovasilivsk in the Zaporizhia region. 7. General Staff of the Armed Forces of Ukraine: A Russian oil refinery in Ryazan Oblast was attacked by Ukrainian forces; the refinery produces 840,000 tons of aviation fuel and other military fuels annually. 8. Russian Ministry of Defense: 247 Ukrainian drones were shot down in the past 24 hours. A Ukrainian military airport and energy facility related to the defense industry were attacked. 9. General Staff of the Armed Forces of Ukraine: Ukrainian forces struck the Sky-U radar station in Crimea, a military train in the Tokmok region of Zaporizhzhia, and a Russian troop assembly point in Volchansk, Kharkiv region.

The ASX200 Index Has Returned to a Key Supply Zone

Jimmy Khan

May 30, 2022 14:51

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We'll be looking at the ASX200 on a daily basis starting today. A crucial supply sector has seen a price increase. Will this be the start of a new uptrend, or will it be a push for new highs?


The ASX200 has pieced together three months of excellent performance after a difficult start to 2022. In January, the price dropped 6.81 percent until purchasers seized control and added about 8% to the present level in April. Buyers have contributed 1% to the market so far this week.


We've now returned to a vital supply point. We've seen two major trend reversals between 7590 and 7640 after price has reached this level. The first rejection was on August 13, 2021, and the most recent was on January 4, 2019, resulting in a 9% decrease.


A robust medium-term surge that started in March is helping buyers. Earlier this month, buyers broke free from consolidation, clearing the stage for a new push back to the supply side. Will this rally come to a finish with a break and close above 7640-7652, setting a new high? Because it is so close to all-time highs, the ASX has a considerable lead above US indexes. Despite worries about inflation and fiscal policy, stock indexes in the United States are increasing. Their current momentum might be just what ASX investors need to take the next step forward. As a result of the RBA's past hints at higher rates, Australian inflation is rising, but it does not seem to be causing too much anxiety in the short term.


We'll be watching to see whether buyers can keep pushing higher or if sellers flood back in, putting pressure on the supply area.

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