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The main contract of the Container Shipping Index (European Line) rose by 15.00% during the day and is now at 1453.8 points.On May 12, Haitong International upgraded Sunny Optical Technologys (02382.HK) rating to "outperform", raised its target price to HK$72.1, and raised its 2025 and 2026 profit forecasts to RMB 3.34 billion and RMB 4.11 billion, respectively. The bank said that easing competitive pressure and improved product mix are driving Sunnys average selling price and gross profit margin. In addition to the core smartphone optics business, Sunnys leadership in AR/XR lenses and automotive camera systems provides it with significant upside potential as global advanced driver assistance systems (ADAS)/autonomous driving (AD) adoption accelerates.On May 12, Turkish diplomatic sources said that the possible resumption of the negotiation process to resolve the Ukrainian conflict in Istanbul, as proposed by Russia, will be one of the topics discussed at the cabinet meeting chaired by Turkish President Erdogan on May 12. The source said: "The issue of the Ukrainian conflict will undoubtedly be included in the international agenda of the cabinet meeting scheduled to be held at the presidential residence in Ankara on Monday (May 12).On May 12, JPMorgan Chase released a research report stating that it expects Xiaomi-W (01810.HK) to have strong earnings growth in the first quarter of this year, mainly driven by the strong momentum of AIoT (artificial intelligence Internet of Things) and electric vehicles, as well as strict control of operating expenses. Adjusted net profit is expected to increase 51% year-on-year to RMB 9.8 billion during the period. The bank slightly raised its forecast to reflect the expected better first-quarter performance and the equity dilution effect brought by the earlier rights issue, and maintained its "neutral" rating with a target price of HK$60; it believes that the current stock price is reasonable and expects the stock price to fluctuate within a range, as most of the positive catalysts have been digested after the strong rise in the stock price at the beginning of the year.The main fuel oil contract rose 2.00% during the day and is now trading at 2,982.00 yuan per ton.

Forecast of the Silver Price – Silver Markets Continue to Exhibit Trepidation

Alina Haynes

May 31, 2022 14:48

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Analysis of the Silver Markets 

Keep in mind that Monday was Memorial Day in the United States, despite the fact that silver markets originally rose during Monday's trading session. Due to this, liquidity would have been problematic. Nonetheless, it appears that the $22 region continues to provide substantial resistance, just as it did in the past. On Friday, we ended up generating a gigantic shooting star, which is a really terrible appearance. If the $22 level is breached, it is likely that there will be further losses; this is especially true if the $21.75 level is breached.

 

On the plus side, if we were to surpass the $23 mark, it would signal a substantial reversal and open the door to future increases. We would need to witness some slowdown in the dollar's gain, if not a total reversal. At this point, it does not appear likely, thus I believe it will only be a matter of time before silver prices fall again. Also keep in mind that the industrial demand for silver is projected to decline in the near future, which will have a big impact on the price.

 

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The $21 level is a potential downside target, but I honestly believe silver has further to fall if it truly begins to unravel. Keep in mind that silver is far more sensitive to negative pressure than gold when metal prices begin to decline. I feel that silver is currently poised to resume its longer-term downturn, but I will continue to monitor price activity nonetheless.


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