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On January 11, UN Secretary-General Spokesperson Stephane Dujarric said on the 10th local time that the United Nations has noticed reports from both the United States and Russia that US President-elect Trump plans to hold talks with Russian President Vladimir Putin. The United Nations welcomes any dialogue between the United States and Russia after Trump officially takes office as president. US media reported on the same day that Trump is planning to hold talks with Putin to resolve the Ukrainian issue. In response, Russian Presidents Press Secretary Peskov said on the 10th that Russia welcomes Trumps willingness to resolve the issue through dialogue. Although there are no specific arrangements at present, there should be further actions after Trump takes office as president.On January 11, the South Korean government said on the 10th that the country will discuss the minimum age standard for the elderly in the near future to deal with issues related to the aging population. According to media reports, the South Korean government intends to raise the minimum age threshold for the elderly to 70 years old. This proposal was made by the Ministry of Health and Welfare of South Korea and has been reported to Acting President Choi Sang-moo. At present, the minimum age standard for the elderly in South Korea is 65 years old.On January 11, the weather in northern and western Japan near the Sea of Japan has been extremely cold recently, with heavy snowfall in large areas over the past few days. In particular, the snow depth in Suoyu, Aomori Prefecture reached 3.7 meters on the 10th. Due to the snowfall, some sections of Japans highways were closed, and some Shinkansen trains were suspended or delayed.British Chancellor of the Exchequer Reeves: The fiscal rules set in the October budget are "non-negotiable". Global financial markets have undoubtedly changed.On January 11, Mitsubishi Motors President Takao Kato was interviewed on January 10. Regarding whether to join the management merger consultation between Honda and Nissan, he said "this is one of the options." Speaking of the envisioned benefits, Kato Takao said "We can actively get help in the North American business (where Mitsubishi Motors has no production base)." Kato Takao also pointed out that in terms of in-vehicle software development, "there will also be scenarios where the technical strength of the two companies will be utilized, which will be very beneficial." Honda and Nissan announced the full launch of management merger consultations in December last year. Mitsubishi Motors previously stated that it will decide whether to join the consultations around the end of January.

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.