LNG: Japan LNG Stocks Rise 7.4% in Week to Sep . 21
LNG stockpiles held by Japanese utilities increased by 7.43% on the week to Sep. 21 to 1.88m tons, according to trade ministry data.
- Stocks rose from the lowest since Mar. 16 at 1.75m tons the prior week.
- Stockpiles were 1.63m tons around this time in 2024 and around 1.56m tons in 2023.
- LNG deliveries to Japan fell by 0.15m tons in the week to Sep. 21 to 1.10m tons, according to BNEF while cumulative monthly deliveries are 0.5m tons below year ago levels.
- The 30-day moving average of Japan’s daily LNG imports have this week fallen to the lowest since early August at 157k tons, Bloomberg vessel tracking shows.
- Japanese demand remained subdued, but the nation’s importers could buy more before temperatures fall, traders said to Bloomberg.
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Historical bullets
SILVER TECHS: Northbound
- RES 4: $41.064 - 1.764 proj of the Apr 7 - 25 - May 15 swing
- RES 3: $40.285 - 1.618 proj of the Apr 7 - 25 - May 15 swing
- RES 2: $40.000 - Psychological round number
- RES 1: $39.655 - 1.500 proj of the Apr 7 - 25 - May 15 swing
- PRICE: $38.924 @ 08:25 BST Aug 25
- SUP 1: $37.229/36.216 - 50-day EMA / Low Jul 31
- SUP 2: $35.285 - Low Jun 24
- SUP 3: $33.940 - 50.0% retracement of the Apr 7 - Jul 23 bull leg
- SUP 4: $32.958 - Low Jun 2
Trend signals in Silver are unchanged and remain bullish. Prices have recently recovered off support at the 50-day EMA, now at $37.229. A clear break of the average is needed to strengthen a short-term bearish threat and allow for a deeper retracement. This would open $35.285, the Jun 24 low. For bulls, the resumption of gains opens the next objective at $39.655 a Fibonacci projection.
USDCAD TECHS: Trading Above The 50-Day EMA
- RES 4: 1.4111 High Apr 10
- RES 3: 1.4019 38.2% retracement of the Feb 3 - Jun 16 bear leg
- RES 2: 1.3968 High May 20
- RES 1: 1.3925 High Aug 22
- PRICE: 1.3829 @ 08:07 BST Aug 25
- SUP 1: 1.3797 20-day EMA
- SUP 2: 1.3771/22 50-day EMA / Low Aug 22
- SUP 3: 1.3576 Low Jul 23
- SUP 4: 1.3557/40 Low Jul 3 / Low Jun 16 and the bear trigger
Gains last week in USDCAD and the breach of resistance at 1.3879, the Aug 1 high, continues to highlight a bullish phase. Moving average studies have recently crossed and are in a bull-mode position, strengthening the current uptrend. An extension higher would signal scope for a climb towards 1.4019, a Fibonacci retracement. On the downside, support to watch lies at 1.3771, the 50-day EMA.
AUDUSD TECHS: Finds Support
- RES 4: 0.6688 High Nov 7 ‘24
- RES 3: 0.6677 0.764 proj of the Jun 23 - Jul 11 - 17 price swing
- RES 2: 0.6569/6625 High Aug 14 / 24 and the bull trigger
- RES 1: 0.6524 High Aug 18
- PRICE: 0.6498 @ 08:03 BST Aug 25
- SUP 1: 0.6415 Low Aug 21 / 22
- SUP 2: 0.6373 Low Jun 23
- SUP 3: 0.6354 38.2% retracement of the Apr 9 - Jul 24 upleg
- SUP 4: 0.6323 Low Apr 16
AUDUSD rallied Friday and for now, the pair is holding on to its latest gains. The rally signals the end of the recent corrective phase. A continuation higher would signal scope for a climb towards 0.6569, the Aug 14 high. Key resistance and the bull trigger is at 0.6625, the Aug 24 high. On the downside, support to watch lies at 0.6415, the Aug 21 / 22 low. A clear break would resume the bear leg.
