US President Donald Trump said that Venezuela will hand over as many as 50 million barrels of oil to the United States and announced that the oil will be sold and the proceeds will benefit both countries.
Trump posted on social media: “I am pleased to announce that the interim authorities of Venezuela will transfer 30 to 50 million barrels of high-quality sanctioned oil to the United States of America.”
“These oil will be sold at market prices, and the money will be under my control as the President of the United States of America to ensure it is used for the benefit of the people of Venezuela and the United States!” Trump added.
After Trump made the above remarks, the price of West Texas Intermediate, the benchmark for U.S. crude oil, dropped by 2.4%.
“We will face a more bumpy road than the market expects,” Naomi Fink, chief global strategist at Amova Asset Management, said in an interview with Bloomberg Television. “Geopolitical tensions are currently intensifying globally, but the market doesn’t seem to be affected by these factors.”
China’s Ministry of Commerce issued a statement on Tuesday, saying that as of now, all dual-use items will be prohibited from being exported to Japan for military purposes.
The government’s export control list includes over 800 items, covering chemicals, electronic products and sensors, as well as equipment and technologies used in the shipping and aerospace sectors.
Technical analysis:
The WeChat functions may be restricted from time to time. If you want to experience the plugin, please leave your contact information when adding a friend so that we can add you back easily!!!
Gold: The heating up of geopolitical situations has always been a favorable factor for gold. Yesterday, we recommended a buy stop in the blue area. Although there were two minor fluctuations, the price eventually rose to the 4500 level. A pullback occurred intraday, but after clearing the liquidity around 4460, there are now signs of stabilization. Pay attention to the possibility of a second sweep of liquidity intraday; meanwhile, if the price recovers above 4490, it will be necessary to reconsider the bullish signal of a momentum break. For detailed positions, please consult the plugin.
(Gold 15-minute chart)
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the chart, please contact V: Hana-fgfg and leave your contact information for us to get back to you.
Nasdaq: Yesterday, our plugin clearly reminded that we should pay attention to the liquidity sweep near 25,350. As a result, after the price dropped into our yellow zone, a strong rally occurred. Currently, the price has rebounded above 25,600. For today, we should focus on the retest of the demand area at 25,500. If there is a liquidity sweep, we should also pay attention to a brief test of 25,450. For detailed positions, please consult the plugin.
(NASDAQ 15-minute chart)
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the chart, please contact V: Hana-fgfg and leave your contact information in the message for us to get back to you.
Crude oil: Affected by Trump’s announcement of confiscating and selling off Venezuelan oil, the price dropped from around 59 to below 56. Currently, the trend has temporarily stabilized above 56, but the downward pressure has not been significantly relieved. For operations, pay attention to the direction of the convergence at the end. For detailed positions, please consult the plugin.
(Crude Oil 15-Minute Chart)
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the picture, please contact V: Hana-fgfg and leave your contact information in the message for us to get back to you.
Key economic data and events to focus on today:
18:00 Eurozone December consumer price index preliminary value
21:15 US December ADP Employment Change
