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On April 3, White House aide Peter Navarro said that US President Trump’s tariffs could increase revenue by three times the size of the World War II tax increase in 1942, and could become the largest tax increase in US history.On April 3, a research report by CLSA indicated that ChinaSoft International (00354.HK)s revenue fell 1% year-on-year to RMB 16.951 billion last year, and the first disclosed AI-related revenue was RMB 957 million, accounting for 5.6% of revenue. The companys price reduction strategy has led to a decline in gross profit margin, and the main reason for the lower-than-expected net profit is a one-time impact. The bank expects the companys fundamentals to improve this year, mainly because the number of employees increased in the second half of last year. The bank expects the companys net profit to reach RMB 748 million this year, up 45.8% year-on-year, and lowered the target price from HK$7 to HK$6.5, maintaining the rating of outperforming the market.On April 3, the Australian bond market has experienced a dovish turn since the White House announced its new tariff agenda. IG market analyst Tony Sycamore said that the market has priced in an 85% chance that the Reserve Bank of Australia will cut interest rates by 25 basis points in May. Subsequent rate cuts are expected in August and November, with a cumulative rate cut of 75 basis points by November. He added that US tariffs have far exceeded expectations, increasing the likelihood of a trade war and recession in the United States. He also said that since goods from countries such as Vietnam are now effectively shut out of the United States, cheap goods are expected to flood other Asian markets.Japan’s Chief Cabinet Secretary Yoshimasa Hayashi declined to comment when asked about the possibility of retaliation against U.S. tariffs.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: We believe that the recent US tariff measures may have a significant impact on the multilateral trading system, and we strongly call on the United States to exclude Japan from these measures.

WTI Price Analysis: On track for $72.50 despite recent recovery

Daniel Rogers

Feb 23, 2023 14:50

 截屏2023-01-13 下午5.17.06.png

 

During the early hours of Thursday, WTI crude oil gains bids to retest its intraday high near $74.40. In doing so, the black metal posts its first daily gains in three days while rebounding from a two-week low.

 

Despite this, the energy benchmark remains on the bears' radar as it flirts with two-week-old prior support near $74.45-50.

 

The bearish MACD signals and the sustained trading below the 50-DMA, which is currently around the $78.00 round figure, also support the bearish Oil price outlook.

 

Even if the WTI surpasses the $78.00 barrier, a downward-sloping resistance line from early November 2022, near $78.50 at the time of publication, could serve as the Oil sellers' last line of defense.

 

It is worth noting that multiple peaks marked in late January around $82.50-$70 and the high of last December of $83.30 could also challenge the WTI bulls.

 

In the meantime, the commodity's new decline may target the horizontal area containing multiple lows marked since the beginning of January, between $72.65 and $50.

 

Nonetheless, the late 2022 lows of $70.30 and the $70.00 round number could join the nearly oversold RSI (14) conditions to challenge the Oil skeptics in the future.

 

WTI remains on the bears' radar until it surpasses the $83.30 barrier on a daily closing basis.