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The Indonesian rupiah rose to 17,690 against the US dollar, its highest level since mid-June.August 21st - According to the Hainan Provincial Meteorological Department, a tropical depression in the South China Sea is expected to linger over the northern Beibu Gulf and Qiongzhou Strait for an extended period over the next three days, gradually intensifying into a tropical storm. From August 22nd to 24th, affected by this storm, the northwestern half of Hainan Island will experience heavy to torrential rain, with localized areas experiencing extremely heavy rain, while other areas will see moderate to heavy rain, with localized areas experiencing torrential rain. From the 22nd to the 24th, most sea areas of Hainan Province will experience gusts of 8-9 on the Beaufort scale, with gusts reaching 9-10 in the northern Beibu Gulf. Prolonged closures of shipping in the Qiongzhou Strait are possible.On August 21st, the A50 index surged in early trading on Friday, and major A-share indices also rebounded collectively, with AI-related sectors such as CPO and liquid cooling showing significant strength. Meanwhile, the South Korean stock index reversed its losses and rose sharply. The Japanese stock market also saw its losses narrow significantly. Three major positive factors emerged from overseas markets. First, US Treasury yields, which had been a concern for the market, initially fell across the board after the Asian markets opened, and the change in expectations in the US Treasury market opened Pandoras box for a weak dollar, which is beneficial for equity valuations. Second, the Korea Exchange activated the Sidecar mechanism, suspending programmatic selling on KOSDAQ. Finally, the storage industry also received a major boost. Micron Technology stated that artificial intelligence has fundamentally changed the cyclical nature of the storage industry, which has historically been trapped in cycles of boom and bust.On August 21, Guangzhou Rural Commercial Bank Co., Ltd.s Huaxia Branch filed for bankruptcy liquidation against Evergrande Real Estate Group Co., Ltd., citing the companys inability to repay its debts and insufficient assets to cover all liabilities. The Guangzhou Intermediate Peoples Court of Guangdong Province, after review, determined that the application met the requirements of Article 2, Paragraph 1 of the "Enterprise Bankruptcy Law of the Peoples Republic of China" and ruled on August 21, 2026, to accept the bankruptcy liquidation application filed by Guangzhou Rural Commercial Bank Co., Ltd.s Huaxia Branch against Evergrande Real Estate Group Co., Ltd.On August 21, according to the Financial Times, sources revealed that Ukraine is seeking approval to use drones equipped with the Starlink system to strike ballistic missile silos within 200 kilometers of Russian territory due to a severe shortage of air defense interceptors in Kyiv. This move requires approval from Elon Musk, whose stance on Ukraine and its use of his satellite internet service has been inconsistent. Another potential obstacle is the recent dismissal of Mikhailova Fedorov, the former Defense Minister who directly communicated with Musk in Kyiv. Previously, Ukrainian President Zelenskyy had repeatedly requested more interceptor missiles from US President Trump and other partners. Military analyst Franz-Stefan Gady stated that even under the most ideal circumstances, Ukraine is unlikely to acquire a sufficient number of interceptor missiles in time to maintain its current air defense strategy. He described Ukraines current strategy as "essentially an attempt to shoot down incoming ballistic missiles."

Predictions for the Silver Market: A Turbulent Time Ahead

Alina Haynes

Jul 22, 2022 14:58

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Silver fell during Thursday's trading session, but it recovered after the European Central Bank raised interest rates, which placed downward pressure on the US dollar. I believe it is only a matter of time until sellers re-enter the market and force this commodity lower since this is a market that continues to witness a lot of noisy activity. However, there are many grounds to believe that silver's value will decline below that of the dollar.

 

Silver's demand is expected to remain weak due to low consumer demand. At this point, I believe it is best to "fade the rise," since it will likely be just a matter of time until sellers re-enter the market. We're probably going to break up soon, and the $20 level above should provide a lot of resistance on the way up.

 

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It's conceivable that sellers will enter the market even if we break over the $20 level, and then the 50 Day EMA will come into play. The 50-day moving average (MA) is currently at $20.73, and it's falling. In the end, I believe that many individuals will rush into this market as soon as it shows indications of tiredness. If the price drops below the hammer's base, it would be reasonable to assume that the $15 support level will be quickly breached.


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