| 
April 11, 2023
A quick look at yesterday: APA, Apache ended Thursday at $38.07. yesterday it went up to $39.5 only to drop back, yet still managed to close at $39.09.
APA Corporation made an initial breakout above its 50 day Simple Moving Average at $38.73, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $39 currently serving as resistance On the other hand, note that APA, Apache could be slowing down soon; it is getting close to the resistance line and is now at $39.62, only 53 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. APA, Apache's upper Bollinger Band® is at $40.2, this is a slight indication of a slowdown.
Overall, looking at the technical analysis landscape, it seems APA, Apache likely to continue pointing upward in the short term.
A look at other materials stocks also showed bullish price action as Linde was up 0.56%. Rio Tinto gained 0.66%, as it traded at $67.19. BHP Billiton was up 0.6%.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.3 million. It previously stood at -3.74 million; data will be released tomorrow at 14:30 UTC.
Elsewhere, United States Consumer Price Index figure is projected at 0.2%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
The Texan hydrocarbon explorer has shed 9.83% over the past three months.
