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On February 26, it was reported that Chen Shifei, former member of the Party Leadership Group and deputy director of the State Food and Drug Administration, was suspected of serious violations of discipline and laws, and is currently undergoing disciplinary review and supervision investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission.Hong Kong-listed domestic real estate and property management stocks strengthened again, with Songdu Services (09608.HK) rising nearly 7%, Yongsheng Services (01995.HK) rising more than 5%, CR Land Development (01209.HK) rising more than 4%, Country Garden Services (06098.HK) and Sunac Services (01516.HK) both rising more than 3%.On February 26, as of 9:00 am today, the subscription for the public offering of Mixue Ice City (02097.HK) was closed, with the financing subscription multiple reaching 5,125 times and the subscription amount reaching HK$1.77 trillion. It became a phenomenal IPO. The brokerage firm with the most financing subscription was Futu Securities, which was close to HK$1.06 trillion, accounting for 59%, followed by Phillip Securities, which reached HK$306 billion, accounting for 17%, and CITIC Securities and Tiger Securities also exceeded HK$100 billion.The U.S. House of Representatives passed a Republican budget blueprint to advance President Trumps agenda, sending the proposal to the Senate.The Hang Seng Index in Hong Kong opened up 204.32 points, or 0.89%, at 23,238.34 points on Wednesday, February 26; the Hang Seng Technology Index opened up 64.8 points, or 1.14%, at 5,763.62 points on Wednesday, February 26; the CSI 300 Index opened up 69.61 points, or 0.82%, at 8,568.8 points on Wednesday, February 26; and the H-share Index opened up 18.13 points, or 0.48%, at 3,830.4 points on Wednesday, February 26.

The Crude Oil Markets Have Had a Successful Week

Larissa Barlow

Apr 18, 2022 10:00

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Weekly Technical Analysis of WTI Crude Oil

The West Texas Intermediate Crude Oil market originally retreated somewhat throughout the trading week, but found enough support beneath to reverse course and surge upward. Thus, the market has rebounded rather nicely, implying that perhaps oil is not quite ready to collapse after all. We broke over the previous week's lengthy neutral candle, indicating that buyers have moved in to maintain pressure. At this time, crude appears to be heading towards the $115 level. Subsequently, it appears as though the $93.50 level is providing strong support.

Weekly Technical Analysis of Brent Crude Oil

Brent markets have also demonstrated considerable support, breaching over the $111 level at the week's finish. At this time, it appears as though we will threaten the highs once more, as we are on the verge of a complete reversal. It appeared as though we were about to break down, but the market was spared by the critical uptrend line. Generally speaking, this is a market that appears to be attempting to reach the $120 level.

 

Short-term pullbacks should continue to offer buying chances as long as we maintain a price over $100, and thus it is likely that the trend has fully redeemed itself. With that in mind, the market is likely to see buyers reenter, and as a result, I am not interested in selling till we break below the $95 level. If we break below that level, it is likely that we will head straight for the $90 level.

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