• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian President Volodymyr Zelensky will meet with French President Emmanuel Macron in Paris on Monday.On November 29, the Israel Defense Forces (IDF) announced that it had designated a suburb of Bethlehem in the West Bank as a "closed military zone." This followed a violent attack by Israeli settlers that injured several Palestinians. The IDF stated that it received reports of "violent clashes" between Israelis and Palestinians, with both sides throwing stones at each other, and reports of gunfire directed at Palestinians. IDF troops and police were deployed to the scene, using riot control to disperse the crowd and declaring the area a "closed military zone." Several Israelis were injured in the incident but refused medical treatment. Israeli police have launched an investigation.Kuwait Aviation Authority: Kuwait Airways has completed all technical system updates for its Airbus A320 aircraft.On November 29th, the Wall Street Journal reported that last month in Miami Beach, three powerful businessmen—two Americans and one Russian—huddled around a laptop, ostensibly to draft a plan to end the Russia-Ukraine conflict. But according to sources, their project extended far beyond that. Privately, they were devising a path to reintegrate Russias $2 trillion economy into the international arena and allow American companies to reap the benefits before their European competitors. In the mansion, billionaire developer and current U.S. envoy, Witkov, was hosting Dmitriev, head of Russias sovereign wealth fund and Putins handpicked negotiator. Dmitriev practically dominated the drafting and revision of the document on the screen. Trumps son-in-law, Kushner, also arrived from his residence. Dmitrievs plan involved American companies utilizing approximately $300 billion in Russian central bank assets frozen in Europe for joint U.S.-Russian investment projects and a U.S.-led reconstruction effort in Ukraine. American and Russian companies could also collaborate on developing the Arctics rich mineral resources.American Airlines: As of 7 a.m. Central Time, the team has made significant progress in resolving the Airbus software issue, with 4 of the 209 affected aircraft still awaiting the update.

Analysis of the Silver Price: XAG/USD falls toward weekly support under $23.50

Daniel Rogers

Jan 11, 2023 11:57

119.png 

 

The silver price (XAG/USD) remains below $23.60 among Wednesday's weak markets. In doing so, the precious metal falls for a third straight day, despite slight gains.

 

However, the continuous trading below the 200-Hour Moving Average (HMA) gives sellers reason for optimism. Even yet, the positive MACD indications and largely stable RSI (14) suggest that downside potential is constrained.

 

The XAG/USD appears to be supported by an upward-sloping support line from last Thursday, which, as of press time, is located near $23.50.

 

In the event that sellers of Silver are able to overcome the $23.50 support level, the $23.11 monthly low and the $23.00 round number will receive significant attention.

 

Nonetheless, the $22.50 level promises to be a formidable obstacle for XAG/USD bears going forward, since it contains the June 2022 high and the December low.

 

In the meantime, an upside clearance of the 200-HMA, at $23.80 at the latest, is insufficient for the Silver buyer's conviction, as a downward-sloping resistance line from January 03, near $23.90, will test the quote's further gains.

 

Also acting as a barrier to the upside is the $24.00 round number, a breach of which could swiftly lead prices to challenge the current monthly high of $24.55.