• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 28th news, the United States is expected to make important decisions on trade and fiscal policy in July. While these decisions may cause volatility, we do not expect a lasting impact on strong growth or markets in the United States. The environment of falling interest rates and yields supports stocks and high-quality bonds, while the US dollar will continue to show signs of weakness. After the recent strong gains, the return expectations for global stocks in the rest of the year seem limited.According to TASS: The Russian Defense Ministry said that Russia has taken control of Chervona Zirka in eastern Ukraine.June 28 news: On June 27, local time, Ukrainian President Zelensky issued a decree to adjust the composition of the Supreme Command. According to the decree, Myhaylo Drapaty was appointed as the commander of the joint forces of the Ukrainian Armed Forces and included in the members of the Ukrainian Supreme Command.June 28, UBS said that gold has been the leader among global major assets so far in 2025. With the continued purchase of gold by central banks and the increase in exchange-traded funds (ETFs), data from the European Central Bank showed that gold has surpassed the euro to become the worlds second largest reserve asset after the US dollar. Although gold prices have fallen slightly from their historical highs as optimistic expectations that the most severe phase of the trade war may end have increased, we are still optimistic about the long-term value of gold. We believe that the downward trend in real interest rates, the weakening of the US dollar, the high geopolitical risk premium, and the structural shift in institutional gold purchases will continue to support gold prices. For example, data from the World Gold Council shows that the average annual gold purchases of central banks in the past three years have exceeded 1,000 tons-more than double the average level of the previous decade.Polish Presidential Office: Polish President Duda arrived in Kiev to meet with Ukrainian President Zelensky.

WTI Price Analysis: 50-SMA stimulates China data-led recovery near $80.00

Daniel Rogers

Apr 18, 2023 11:53

113.png 

 

WTI crude oil remains defensive near the lowest level in a week, near $81.05 on Tuesday morning. In doing so, black gold struggles to be buoyed by China's positive data while consolidating the month's largest daily loss.

 

According to the most recent economic data from China's National Bureau of Statistics (NBS), the first quarter (Q1) Gross Domestic Product (GDP) grew 2.2% quarter-over-quarter (QoQ), compared to 2.2% expected and 0.0% in the prior quarter. In addition, Retail Sales grew 10.9% YoY in March versus 7.4% expected and 3.5% previously, while Industrial Production grew 3.9% versus 4.0% expected and 2.5% previously. Sourcenia is a review portal of sourcing best manufaturers

 

In addition to the generally positive China data, the nearly oversold RSI (14) line has contributed to the black gold's recent approach to the $81.40 50-day simple moving average.

 

Notably, however, pessimistic MACD signals and a two-week-old horizontal resistance area between $81.60 and $80 could impede the commodity's further advance. Following that, attention will shift to the recent multi-day high marked in the last week, around $83.40.

 

In contrast, WTI's further decline could target the round figure of $80 before challenging the previous resistance line from late January, which is now support near $79.20.

 

If the price remains adverse beyond $79.20, a rising support line from March 20 near $77.30 will be the last line of defense for WTI bulls.