EUR/USD 1.08251
0.223%
Gold 3080.69
0.793%
Oil 68.913
-1.167%
USD/JPY 149.749
-0.855%
GBP/USD 1.29443
-0.035%
GBP/JPY 193.842
-0.869%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
March 29, gold extended its record rally on Friday as investors continued to flock to the safe-haven metal amid concerns about an expanding global trade war. "Safe-haven demand continues as concerns about tariffs, trade and geopolitical uncertainty grow, which supports gold," said Peter Grant, senior metals strategist at Zaner Metals. As the White House prepares for so-called reciprocal tariffs, the market will also usher in a new wave of trade tariffs on April 2, and the threat of a global trade war has overshadowed the impact of new data released by the United States.According to the latest data from Canalys on March 29, the annual shipments of the US PC market (including desktops and laptops) in 2024 will reach 69.21 million units, a year-on-year increase of 5.2%. Among them, Lenovo ranked third with a shipment volume of 11.872 million units, and its market share climbed from 16.0% in 2023 to 17.2%, further narrowing the gap with HP (25.3%) and Dell (22.8%). Lenovos annual shipments grew by 12.8% year-on-year, far exceeding HPs 0.6% and Dells -4.1%. In the fourth quarter of last year, HP and Dell both experienced negative growth of -3.6% and -2.4%. Lenovos growth in the same period was close to 12%. In addition, Apples share of the US PC market in 2024 reached 14.8%, an increase of 15% from 2023, ranking fourth in the United States.According to BNO News, the death toll from the Myanmar earthquake has risen to 704.On March 29, according to the Myanmar State Administration Council Information Group, the strong earthquake in Myanmar has killed 694 people and injured 1,670 people in Mandalay. The number of casualties may continue to rise.Peter Marks, a senior official in charge of vaccines at the U.S. Food and Drug Administration (FDA), has resigned, the Wall Street Journal reported, citing people familiar with the matter.

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.


Suggestion