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On April 16, White House advisor and senior Trump aide Stephen Miller stated in an interview with Fox News that the United States could continue its blockade of Iranian ports "indefinitely." Miller stated that Trump is "a peace-loving man," but added that the United States has made its position clear: "The United States will not be bullied, and the United States will never be threatened by a nuclear-armed Iran. Not now, and never." Miller stated, "A military action could completely destroy Irans energy infrastructure for generations. But Trump has made it clear that he doesnt want to do that. He hopes Iran will choose the right path to reach an agreement. This blockade is severely damaging the Iranian regimes economic strength, and the United States has the ability to maintain this blockade indefinitely, provided that Iran chooses the wrong path."Malaysian Prime Minister: Petronas has assured that Australia will be given priority once domestic demand is met.The EU climate commissioner warned that energy prices in Europe have risen “astoundingly” and there are no economic “workarounds,” and that the recent crisis demonstrates the need for green investments to reduce dependence on imported fossil fuels.April 16th - The Nikkei 225 index is poised to close at a new high, erasing losses from the Iran war. Market optimism suggests new peace talks could accelerate the end of the conflict. The Nikkei 225 reached 59,549.59 points in early trading, above its all-time closing high of 58,850.27 points set on February 27th. Export-related stocks, including those in the automotive, electronics, and information technology sectors, performed well, while real estate and food stocks declined. Global markets are expected to recover to pre-Iran war levels. The S&P 500 and Nasdaq 100 both hit record highs. Meanwhile, the US and Iran are considering extending the ceasefire agreement for two weeks to allow more time for negotiations. "New information is coming in, which helps stabilize market sentiment regarding the Middle East situation," said Masaki Ito, senior strategist at Nomura Securities. He expects Japanese stocks to move in tandem with US stocks.The UK and the EU plan to begin negotiations soon to include the UK in the EU’s newly established multi-billion euro technology fund as part of efforts to reshape relations and boost the UK economy.

During the week, silver markets recover from support

Daniel Rogers

May 07, 2022 10:27

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Weekly Silver Technical Analysis 

Throughout the week's trading, silver markets have fluctuated, first reaching the $22 zone. However, we are now exhibiting signs of support, and it appears we will continue to see a great deal of buying pressure right below. However, we also have the 200-Week Exponential Moving Average lying just below, and I believe it will also play a role. We are near the bottom of a bigger consolidation area; therefore, I believe a rebound would make sense. However, you should also pay close attention to what transpires afterwards, as anything could occur.

 

If silver falls below the $21.50 mark, it is highly likely that the price will target the $20 level. This will also have a negative correlation with the U.S. currency, so you should monitor the US Dollar Index. The markets continue to exhibit a great deal of erratic activity, so you must be cautious with your position size. Nevertheless, if we were to turn around a break above the week's highs, it is likely that we would target the $24 level. Then, we may aim to achieve the $26 level, which represents the upper boundary of the total consolidation area.

 

As an important industrial metal, this market will be significantly more volatile than gold due to its greater vulnerability to the US dollar and economic worries.

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