OIL PRODUCTS: China Traffic Congestion Eases Ahead of New Year’s Day: BNEF

Jan-03 10:47

China’s road traffic congestion in China’s 15 key cities fell 18.2 percentage points in the seven days to Jan. 1, BNEF said.

Traffic levels fell to 127.8 of Jan 2021 levels.
The trend shows a consistent decline throughout the week, likely caused by reduced travel demand in the run-up to the New Year holiday, BNEF added. There was then a slight rebound on New Year’s Eve before another retreat on New Year’s day.

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Dec-04 10:45

The S&P E-Minis contract maintains a bullish tone and has again traded to a fresh cycle high, today. This confirms a resumption of the uptrend and signals scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on the 6100.00 handle next. Initial support to watch lies at 5979.30, the 20-day EMA.
EUROSTOXX 50 futures have traded higher this week and the contract is holding on to its recent gains. The latest move higher undermines a recent bearish theme. Price has traded through the 50-day EMA, at 4862.20. The clear breach of this average strengthens a bullish theme and signals scope for a stronger recovery, opening 4961.00, the Nov 6 high. Key support lies at 4699.00, the Nov 19 low. A break of it would resume the recent bear cycle. Initial support is 4821.68, the 20-day EMA.

Dec-04 10:43

Dec-04 10:32

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