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Futures News, May 6th: The ongoing tensions in the Middle East have led to fluctuating crude oil prices, while gasoline and diesel demand remains sluggish. News regarding fuel oil has limited directional guidance for market trading. From a supply and demand perspective, fuel oil supply has tightened slightly after major refineries scheduled for maintenance. Refineries have increased production to support prices, but fuel oil processing margins have been squeezed, causing both prices to decline. Downstream traders willingness to purchase at high prices has been dampened. Furthermore, under the guidance of supply guarantee policies, local refineries are operating relatively steadily, ensuring stable fuel oil supply and maintaining sales pressure. Considering all factors, the fuel oil market is experiencing mixed signals from both news and supply and demand perspectives. It is expected that fuel oil negotiations this week will see some areas remain stable or stagnant, while others will experience narrow fluctuations.On May 6th, the Ministry of Industry and Information Technology (MIIT) released the operating data of the electronic information manufacturing industry for the first quarter of 2026. In the first quarter of 2026, my countrys electronic information manufacturing industry experienced rapid production growth, continued export recovery, significant profit improvement, and accelerated investment growth, resulting in a generally positive industry development trend. In the first quarter, the electronic information manufacturing enterprises above designated size achieved operating revenue of 4.31 trillion yuan, a year-on-year increase of 14.8%; operating costs of 3.69 trillion yuan, a year-on-year increase of 11.7%; and total profits of 217 billion yuan, a year-on-year increase of 125%. In March, the operating revenue of the electronic information manufacturing enterprises above designated size reached 1.68 trillion yuan, a year-on-year increase of 15.7%.CEO of Rivian, the American electric vehicle company: Electric vehicle manufacturers are developing a more affordable derivative of the R2 model.Hong Kong-listed semiconductor and memory stocks surged, with Montage Technology (06809.HK) jumping over 18%, Tianshu Intelligent Manufacturing (09903.HK) rising over 13%, GigaDevice (03986.HK) gaining over 12%, OmniVision Technologies (00501.HK) and Hua Hong Semiconductor (01347.HK) both rising over 7%, and Solomon Semiconductor (02878.HK) and SMIC (00981.HK) both climbing over 6%.The Peoples Bank of China (PBOC) announced today that it conducted 26 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 26 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.

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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