Source: FX Empire
The official website of the Kataeb Party leader
Security & Justice
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Gaps in Coastal Radar Enabled Israeli Raid in Batroun, Army Commander Says
Lebanon’s army chief, General Joseph Aoun, detailed to Caretaker Prime Minister Najib Mikati how Israeli forces likely exploited gaps in the country's coastal radar system during the recent raid carried out in Batroun. The briefing comes as Lebanese officials seek answers on how Israel’s elite Shayetet 13 unit carried out the landing undetected.
Monday, November 4, 2024
Opinion
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
A Future Without Hezbollah
At the end of September, when Israel’s campaign to destroy Hezbollah was reaching its height, I met one of the group’s supporters in a seaside café in western Beirut. He was a middle-aged man with a thin white beard and the spent look of someone who had not slept for days. He was an academic of sorts, not a fighter, but his ties to Hezbollah were deep and long-standing.
Thursday, October 31, 2024
Sports
FC Barcelona Fears First Team Star Will Be Banned From Playing, Reports SPORT
FC Barcelona is concerned that one of its main first-team stars will be banned from playing at the turn of 2025 because of issues related to his registration and Financial Fair Play (FFP) limits according to SPORT, which cited anonymous sources.
Friday, November 1, 2024
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Thursday 7 March 2024 13:12:15
Natural Gas and Oil Forecast: China’s Trade Surplus, Will USOIL Swing Bullish?
Minor retreat in oil prices amid anticipation for China's demand data and mixed U.S. monetary policy signals.
China’s Trade Surplus Fuels Demand
Oil prices saw a minor retreat in Asian trading, interrupting the recent surge as the market eyes crucial demand signals from China and navigates through nuanced cues from U.S. monetary policy. The initial surge, sparked by Federal Reserve Chair Jerome Powell’s suggestion of potential interest rate reductions, was tempered by comments from Minneapolis Fed Chief Neel Kashkari, who expressed a cautious stance on inflation and the prospect of minimal rate cuts in 2024.
The focal point shifts towards China’s newly released trade data, revealing a substantial trade surplus of 891B Yuan, surpassing expectations and previous figures significantly. In USD terms, the trade balance soared to 125.2B, indicating robust trade activity and potentially higher oil demand than anticipated. This data emerges against the backdrop of China’s modest GDP growth target for 2024 and limited details on stimulus measures, stirring mixed sentiment in the markets.
Natural Gas (NG) sees a modest uptick to $1.9830, marking a 0.20% rise amidst a cautiously optimistic market. Technical analysis reveals a supportive upward channel, with the pivotal $1.9506 acting as a foundational baseline for bullish sentiment.
Resistance levels are charted progressively higher at $2.0287, $2.0841, and $2.1346, challenging any upward movement. On the downside, supports at $1.8604, $1.8016, and $1.7257 offer a safety net against potential pullbacks.
The 50-Day and 200-Day Exponential Moving Averages at $1.9079 and $1.9901, respectively, underscore the current bullish bias. Should Natural Gas dip below its pivot, it could trigger a bearish shift.
WTI Oil Price Forecast
In today’s commodity market, US Oil (USOIL) marginally dipped by 0.02%, setting the price at $79.03. The four-hour chart delineates a pivotal stance at $78.38, dictating the immediate market direction. Overhead, resistances are positioned at $79.43, $80.20, and $81.06, challenging bullish advancements. Conversely, supports lie at $77.61, $76.81, and $75.82, safeguarding against further declines.
Technical indicators, including the 50-day and 200-day Exponential Moving Averages (EMAs) at $78.55 and $76.88 respectively, hint at underlying bullish sentiment. The current market configuration, hovering above the pivot, underscores a potential for upward movement, yet a descent below $78.38 could pivot the trend towards bearish territory.
Brent Oil Price Forecast
On the ascent, Brent faces resistance at $83.45, extending to $84.06 and peaking at $84.86, which could cap further rallies. Downward, the first line of defense is seen at $81.82, with subsequent supports at $80.97 and $80.32, ready to arrest any pullback.
The 50 and 200-day Exponential Moving Averages, at $82.59 and $81.53 respectively, underscore a bullish undercurrent, suggesting resilience in the current pricing structure. Should UKOIL sustain above $82.76, the bullish narrative persists, yet slipping below could prompt a reconsideration towards bearish territories.
For a look at all of today’s economic events, check out our economic calendar.