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According to news on October 25, from January to September this year, the cumulative transaction volume of new houses in Foshan was 23,611 units and 2.8425 million square meters, which was lower than the transaction volume in the same period last year; but the cumulative transaction volume of second-hand houses was 40,990 units and 5.008 million square meters, an increase of 3.3% and 4.3% year-on-year respectively.On October 25, Russian Presidents Special Representative Kirill Dmitriev said during his visit to the United States on the 24th that he believed that all parties were "very close" to reaching a diplomatic solution to the Ukrainian issue, and Russia was open to Ukraine obtaining third-party "security guarantees" in the future.According to the Suzhou Release WeChat official account on October 25th, a series of events were held in Zhangjiagang High-tech Zone (Tangqiao Town) on the morning of October 24th, including the groundbreaking ceremony for the dishwasher smart manufacturing project of Xiaomis ecological chain company, Qingmei Technology; the opening of the Zhangjiagang High-tech Zone Cross-border Empowerment Center; and the signing of the personal care small appliance smart manufacturing project of Xiaomis ecological chain company, Xiaobei Technology. According to reports, the dishwasher smart manufacturing project of Xiaomis ecological chain company, Qingmei Technology, has a total investment of 500 million yuan, with a planned annual production capacity of 500,000 dishwashers. Upon reaching full production, it is expected to generate an annual output value of 800 million to 1 billion yuan. The personal care small appliance smart manufacturing project of Xiaomis ecological chain company, Xiaobei Technology, has a total investment of 500 million yuan. Upon reaching full production, it is expected to have an annual production capacity of 15 million units and an annual output value of 2.4 billion yuan.On October 25th, the China Railway Corporation announced that the 12306 Customer Service Center will add a new group ticketing service by phone, raising the maximum number of tickets per order to 19. The 12306 app will also increase the maximum number of train tickets per order from 9 to 19, and the number of passengers that can be added to a single 12306 account from 15 to 30.On October 25, the Russian Ministry of Defense announced that Russian air defense forces shot down 121 Ukrainian drones in various regions of Russia overnight. The report stated: "Over the past night, air defense weapons on duty intercepted and destroyed 121 Ukrainian fixed-wing drones: 20 over Rostov Oblast, 19 over Volgograd Oblast, 17 over Bryansk Oblast, 12 over Kaluga Oblast, 11 over Smolensk Oblast, 9 over Belgorod Oblast, and 9 over Moscow Oblast. Seven of these drones flew in the direction of Moscow, eight each over Voronezh and Leningrad Oblasts, two each over Novgorod, Ryazan, and Tambov Oblasts, and one each over Tver and Tula Oblasts."

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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