AMERICAS OIL: Nova Scotia government bill would lift ban on fracking
Nova Scotia government bill would lift ban on fracking, uranium exploration: Yahoo Finance
- A new government bill put forward Tuesday would lift blanket bans on uranium exploration and hydraulic fracking of fossil fuels in Nova Scotia.
- The province says the omnibus bill would repeal the existing Uranium Exploration and Mining Prohibition Act to allow for research about the presence and distribution of uranium in Nova Scotia.
- It would also make changes to the Petroleum Resources Act to “create the potential" for hydraulic fracking to access onshore natural gas.
- Premier Tim Houston told reporters the legislative changes are needed to make the province more self-reliant and able to withstand economic challenges that would result from U.S. tariffs.
- Houston says he’s confident there’s a safe way to develop these resources while meeting provincial greenhouse gas emissions reduction targets.
- Officials with the Department of Natural Resources say the existing legislation has had the effect of significantly limiting industry interest in exploring for natural gas and critical minerals in Nova Scotia.
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Historical bullets
USDJPY TECHS: Support At The 50-Day EMA Remains Intact
- RES 4: 160.00 Round number resistance
- RES 3: 159.45 High Jul 12
- RES 2: 159.26 0.618 proj of the Sep 16 - Nov 15 - Dec 3 price swing
- RES 1: 158.08/87 High Jan 15 / 10 and the bull trigger
- PRICE: 156.18 @ 19:31 GMT Jan 17
- SUP 1: 154.92 50-day EMA
- SUP 2: 154.44 Low Dec 19
- SUP 3: 153.99 Trendline support drawn from the Sep 16 ‘24 low
- SUP 4: 153.16 Low Dec 17
The trend condition in USDJPY is unchanged, it remains bullish and last week’s move lower appears corrective - for now. The pair has traded through the 20-day EMA and an extension lower would signal scope for a deeper retracement. Support to watch is 154.90, the 50-day EMA. A return higher and a breach of 158.87, the Jan 10 high, would confirm a resumption of the uptrend and open 159.45, the Jul 12 ‘24 high.
EURGBP TECHS: Trend Needle Points North
- RES 4: 0.8530 76.4% retracement of the Aug 8 - Dec 19 downleg
- RES 3: 0.8494 High Aug 26 ‘24
- RES 2: 0.8471 61.8% retracement of the Aug 8 - Dec 19 downleg
- RES 1: 0.8463 High Jan 15
- PRICE: 0.8443 @ 19:24 GMT Jan 17
- SUP 1: 0.8385 Low Jan 14
- SUP 2: 0.8332/8284 50-day EMA / Low Jan 8
- SUP 3: 0.8263 Low Dec 31
- SUP 4: 0.8223 Low Dec 19
EURGBP maintains a firmer tone and the cross continues to trade closer to its recent highs. The latest recovery undermines the recent bearish theme and suggests scope for stronger short-term gains. 0.8376, the Nov 19 high and a key resistance, has been cleared. Note too that 0.8448, the Oct 31 high, has been pierced, a clear break of this hurdle would strengthen the bullish theme. Support at the 50-day EMA is at 0.8332.
EURUSD TECHS: Trend Signals Still Bearish
- RES 4: 1.0630 High Dec 06
- RES 3: 1.0513 50-day EMA
- RES 2: 1.0437/58 High Jan 6 / High Dec 30
- RES 1: 1.0345/54 20-day EMA / High Jan 15
- PRICE: 1.0282 @ 19:12 GMT Jan 17
- SUP 1: 1.0178 Low Jan 13 and the bear trigger
- SUP 2: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing
- SUP 3: 1.0122 2.0% 10-dma envelope
- SUP 4: 1.0031 2.000 proj of the Sep 25 - Oct 23 - Nov 5 price swing
The trend condition in EURUSD is unchanged, it remains bearish and last week’s recovery appears corrective. Recent weakness resulted in a print below 1.0226, the Jan 2 low. The breach confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Sights are on 1.0138 next, a Fibonacci projection. Resistance to watch is 1.0437, the Jan 6 high. Initial resistance is at 1.0345, the 20-day EMA.
