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Federal Reserve Board Governor Bowmans speech will be released in ten minutes.French President Emmanuel Macron stated: "We will continue to firmly support Ukraine. Ukraines future cannot be forged without the participation of the Ukrainian people. Europe must also be involved in developing a solution. We will continue to coordinate closely with Zelenskyy and our European partners."SpaceX: The Dragon spacecraft has been confirmed to have splashed down.On August 9th, European powers and Ukraine responded to Russian President Vladimir Putins ceasefire plan on Saturday with a counter-proposal, which they said must serve as a framework for progress in upcoming talks between Trump and Russian leaders, according to two European officials familiar with the negotiations. Europe rejected Russias proposal that Ukrainian troops withdraw from the remaining areas of Donetsk in exchange for a ceasefire. The European proposal included a requirement for a ceasefire before any other steps could be taken. It also stated that territorial exchanges could only be made on a "reciprocal" basis, meaning that if Ukraine withdraws from certain areas, Russia must withdraw from others. "You cant start a (peace) process by ceding territory in the middle of a battle," said a European negotiator. Crucially, the European plan presented to U.S. Vice President Cyril Vance and others also stipulated that any territorial concessions from Kyiv must be backed by absolutely reliable security guarantees—including the possibility of Ukraine joining NATO.The European proposal includes a ceasefire before any other steps can be taken. It also says territorial swaps can only be done on a "reciprocal" basis, meaning that if Ukraine withdraws from some areas, Russia must withdraw from others.

Despite recent retreat to $25.00, XAG/USD investors are in the driver's position, according to Silver Price Analysis

Daniel Rogers

Apr 06, 2023 11:45

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Following a volatile Wednesday that initially reaffirmed a one-year high before registering a daily loss, the silver price (XAG / USD) oscillates around $25.00 in the early hours of Thursday.

 

In doing so, the precious metal justifies the overbought RSI (14) while falling below a resistance line with an upward slope from April 2022.

 

Wednesday evening's quotation, however, signaled a corrective rise. The inability of the XAG/USD to overcome a three-month-old key support and previous resistance around $24.55-65 may be related. Moreover, the optimistic MACD signals support the rebound.

 

Therefore, unless it falls below $24.55, the price of silver is likely to remain stable.

 

Even if the price breaches the stated resistance-turned-support, a rising support line from mid-March near $24.05 can act as an additional filter to the south.

 

In the meantime, it may be difficult for recovery movements to surpass the multi-day-old resistance line near $25.30 as of press time.

 

In the event that the Silver price disregards the overbought RSI and breaches the aforementioned resistance level of around $25.30, the April 2022 high of around $26.25 may function as a stop during the probable run-up to the previous annual peak of $26.95.

 

Overall, the Silver price remains bullish despite the most recent decline. However, the metal's northward journey is likely to continue to be lengthy and turbulent.