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* California regulators on Friday approved new rules requiring all medium- and heavy-duty vehicles sold in the state in 2036 be zero-emission, a day after the California Air Resources Board (CARB) adopted reduced emission regulations for locomotives. "With these actions requiring all new heavy-duty truck sales to be zero emission and tackling train pollution in our state, we’re one step closer to achieving healthier neighborhoods and cleaner air for all Californians," said Governor Gavin Newsom.

* The U.S. House of Representatives on Friday voted to repeal President Joe Biden's suspension of tariffs on solar panels from four Southeast Asian nations, a move aimed at supporting a domestic supply chain but that solar project builders say would stall clean energy development.

* Natural gas futures returned to the green for April, finishing the month up nearly 9% while staying stuck to the mid-$2 level that has largely characterized this year’s pricing for America’s favorite temperature control fuel. The most-active June gas contract on the New York Mercantile Exchange’s Henry Hub settled Friday’s trade up 5.5 cents, or 2.3%, at $2.41 per mmBtu, or metric million British thermal units. For the week, June gas was flat while for the month it rose 8.8%

* Louisiana's application to obtain enforcement authority over carbon capture wells has gone to the Federal Register for public comment, the Environmental Protection Agency (EPA) said on Friday, a key step in receiving "so-called" primacy and speeding up the permitting process.

Chart for the Week

MCX ICOMDEX BASE METAL (Weekly) : 16875.11

Observation

* The overall trend in the MCX ICOMDEX BASE METAL can be observed to be in a down trend as the index is in the formation of Lower Lows and Lower Highs.

* The recent breakdown of the rectangle pattern on weekly chart indicates continuation of downtrend.

* The prices are currently quoting below the 20 Weeks SMA which confirms the beginning of the trend to the downside.

* Momentum Indicator RSI has sustained well below the 40 mark which reflects the lack of positive momentum.

Inference

* These factors indicate that the trend for MCX ICOMDEX BASE METAL FUTURES is expected to move lower in the short term.

* Sell MCX ICOMDEX BASE METAL FUTURES below 16700 for the target of 16000 followed by 15730 where the stop loss must be 17100 on the closing basis

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