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The yield on Japans two-year government bonds rose 1.0 basis point to 1.415%.On June 23, Rio Tinto (RIO.N), BHP Billiton (BHP.N), and Caterpillar Inc. (CAT.N) launched a trial of battery-powered electric transport trucks in the Pilbara region. The joint trial showed "significant progress." In the initial testing phase, over 100 hours of operation and 200 test cycles have been completed. The next phase will evaluate dynamic charging technology. The three companies stated that dynamic charging could become a key factor in improving operational efficiency. BHP Billiton reiterated its target of reducing operating greenhouse gas emissions by at least 30% from fiscal year 2020 levels by fiscal year 2030.The yield on Japans 20-year government bonds fell 1.5 basis points to 3.565%.Rio Tinto (RIO.N): Rio Tinto (RIO.N), BHP Billiton (BHP.N) and Caterpillar (CAT.N) launched a trial of a battery-powered electric transport truck in Pilbara.On June 23, US President Trump posted on social media, “At least 39 people injured and 4 dead in the Chicago weekend shooting. Governor Pritzker, as president, I can fix this quickly and permanently. Washington, D.C., Memphis, New Orleans, [crime rates] are at historic lows, and very quickly! Call me!” Since Friday night, a series of shootings in Chicago have resulted in multiple injuries and deaths. This violence has prompted Trump to renew his call for the deployment of troops to Chicago. Illinois Governor J.B. Pritzker has repeatedly rejected such federal intervention.

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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