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On May 20th, according to Irans Tasnim News Agency, Iranian military spokesman Mohammad Akraminia emphasized the armys state of readiness in a speech on Tuesday. He stated that the army has treated the "ceasefire period" as a "wartime period" and has used this opportunity to enhance its combat capabilities. Regarding hostile forces, the spokesman stated that Iran will never be besieged or defeated. He warned that if the enemy makes another foolish move and falls into the Jewish trap again, launching another invasion of Iran, then the country will open new fronts to confront them through new means and methods. At the same time, he emphasized the Iranian armed forces control of the Strait of Hormuz, stating that the situation in this strategic waterway cannot return to its previous state. He said, "The only way out for the enemy is to respect the Iranian nation and respect Irans legitimate rights."On May 20th, Cornwall Insights, a UK-based energy consultancy, released a report on May 19th forecasting household energy price ceilings for July to September 2026. The report stated that rising energy prices due to the Middle East conflict could increase the annual energy expenditure ceiling for UK households by 13%. According to the final forecast, a UK household using both gas and electricity could see its annual energy bill reach as high as £1,850 (approximately US$1.339 per pound), up from a previous forecast of £1,641. The report points out that the main reason for the energy price increase is the sharp rise in global energy prices following the outbreak of the Middle East conflict. Although the temporary ceasefire has somewhat mitigated market volatility, prices remain high. The report predicts that even if the conflict ends immediately, the damage to infrastructure and supply chain disruptions will have a lasting impact, making it difficult for the UK household energy cost ceiling to fall back to April levels this autumn.On May 20th, both WTI and Brent crude oil prices fell by more than 2% on Wednesday, as US President Trump reiterated that the war with Iran would soon end. However, investors remained cautious about the outcome of the peace talks due to continued supply disruptions in the Middle East. Emril Jamil, senior oil research analyst at the London Stock Exchange Group, said that benchmark oil prices softened due to the possibility of an agreement as the market weighed the geopolitical situation. However, even if an agreement is reached, oil prices may still have some room to rise, as supply is unlikely to immediately return to pre-war levels. Toshitaka Tazawa, an analyst at Fujitomi Securities, said that investors are closely watching whether the US and Iran can truly find common ground and reach a peace agreement, given the possibility of another US strike against Iran and the fact that even if a peace agreement is reached, crude oil supply will not quickly return to pre-war levels, oil prices are likely to remain high.WHO Director-General: A U.S. citizen has been diagnosed with Ebola.WHO Director-General: The committee unanimously agreed that the Ebola outbreak constitutes a Public Health Emergency of International Concern, but not a pandemic.

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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