<h2>Silver's Major Trend</h2>
<p>Analyst: The &#34;big explosion&#34; in silver is the result of long-term accumulation. Patience is a difficult and often distressing thing. The chart below shows that the new resistance level for silver is around $33, <strong>the ascending wedge pattern is signaling a potential pullback.</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://img.jin10.com/news/25/01/cLhSp4iTWKmnasVkJBDXE.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://img.jin10.com/news/25/01/cLhSp4iTWKmnasVkJBDXE.png"/></p>
<h2>Oil Prices Need a Weak Dollar</h2>
<p>Analyst: Although oil prices priced in dollars have risen by about 20%, the increases in oil prices priced in euros, yen, and won are even larger. The total crude oil imports of the EU, Japan, and South Korea amount to at least 13 million barrels per day. As you know, crude oil is priced in dollars, so <strong>a strong dollar fundamentally suppresses demand in non-dollar regions.</strong> It is important to pay attention to potential headwinds, not just the panic buying of physical goods caused by sanctions. <strong>We need the tailwind effect brought by a weaker dollar.</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://img.jin10.com/news/25/01/5u8aAvqtU5uhkbMUBHsTC.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://img.jin10.com/news/25/01/5u8aAvqtU5uhkbMUBHsTC.jpg"/></p>
<h2>Oil Market Fundamentals</h2>
<p>Indian refineries began seeking crude oil supplies from the Middle East even before the sanctions. In December 2024, India's crude oil imports from the Middle East reached a record high. Due to the impact of sanctions, Indian refineries have been forced to enter the Middle Eastern spot market, <strong>and this trend may further strengthen in the first quarter of 2025.</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://img.jin10.com/news/25/01/PULUcWYyeNqsx5yV6fpD4.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://img.jin10.com/news/25/01/PULUcWYyeNqsx5yV6fpD4.png"/></p>
<h2>Oil Market Fundamentals ii</h2>
<p>Analyst: According to Kpler data, Russia's maritime crude oil exports in December fell to a two-year low, and preliminary data for January is also at a very low level. Meanwhile, Russia is expected to refine 5.63 million barrels per day in February, an increase of 113,000 barrels from the previous month. <strong>This means that the crude oil supply available for export markets will still be limited.</strong> The trend in the chart below is already very clear...</p>
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<p><em>The &#34;Must-See Macroeconomic Charts&#34; series is updated daily exclusively on the Research Star Planet, with researcher Lexie filtering the &#34;divine charts&#34; shared by Wall Street giants for you every day. <strong>Scan the code to unlock all content for this issue (at least 15 charts per issue), enjoy one year of Research Star Planet rights, and explore macro strategy analysis, professional trader sharing, key data forecasts, and other series content.</strong></em></p>


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<p>Russia's December maritime crude oil exports fell to a two-year low, with preliminary data for January also at very low levels. Analysts point out that oil prices need support from a weak dollar; although dollar-denominated oil prices have risen by about 20%, demand in non-U.S. regions is suppressed. Indian refineries began seeking Middle Eastern crude oil supplies before the sanctions, and imports from the Middle East are expected to reach a record high in December 2024. Russia expects refining volumes in February to reach 5.63 million barrels per day, with crude oil supply in export markets still constrained</p>

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Must-see macro chart: Russia's December maritime crude oil exports plummet (2025/1/17)