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Benmo Technology announced on the Hong Kong Stock Exchange that it plans to issue 50 million H shares (subject to the exercise of the over-allotment option) in Hong Kong, with an issue price of HK$21.60 per share, and is expected to start trading on September 29.Conflict Update: 1. Russia claims massive drone attack in Moscow region, resulting in 2 deaths. 2. Russian officials: Russia shot down over 1,600 Ukrainian drones. 3. Ukrainian President Zelensky: Ukrainian military attacked an oil refinery in the Moscow region of Russia. 4. Russian Ministry of Defense: In response to attacks on civilian infrastructure by Ukrainian armed forces, the Russian military will intensify its strikes against military targets in Kyiv. 5. Russian Ministry of Defense: Ukrainian armed forces attempted to launch a large-scale attack using drones and Flamingo missiles to disrupt the Russian elections. Other Updates: 1. The Central Election Commission of the Russian Federation will announce preliminary election results at 11:00 AM Moscow time on September 21 (4:00 PM Beijing time on September 21). 2. Ukrainian President Zelensky: He has spoken with US President Trump, and the two sides agreed to meet in New York. This meeting "could change a lot of things." 3. Sources: Diesel prices were a focus of the call between US President Trump and Ukrainian President Zelensky. 4. According to Axios: US President Trump will meet with Ukrainian President Zelensky in New York on Tuesday.Conflict Status: 1. Houthis claim Saudi escalation will face stronger retaliation. 2. US media: US military will not launch offensive strikes against Houthi rebels. 3. Iranian military: Any US attack will result in Iranian retaliation. 4. Explosion near Erbil airport in Iraq, where US troops are stationed. 5. Iranian Army Commander claims to have deployed a large number of troops to the border region. 6. Houthi rebels: Saudi Air Force conducted 28 airstrikes in the past 24 hours. The total number of airstrikes since Saudi escalation has reached 760. Strait of Hormuz: 1. Iranian military claims to have shot down an "orbiting drone" over the Strait of Hormuz. 2. Iranian Parliament Speaker: The Strait of Hormuz will remain closed until Irans conditions are met. 3. Joint Maritime Information Center: In the past 72 hours, the US Navy assisted in 97 transits through the Strait of Hormuz. 4. US Central Command stated that as of that day, it had guided 109 merchant ships to change course to ensure compliance with US maritime blockade regulations against Iran. Other developments: 1. US embassies in several Middle Eastern countries issued security alerts. 2. Irans Civil Aviation Organization denied rumors of a complete suspension of flights with Iraq. 3. Pentagon investigators: A series of US errors led to the attack on an Iranian primary school. 4. Turkey stated it may provide assistance to Saudi Arabia under the Mecca Mutual Defense Agreement. 5. Qatars Ministry of Foreign Affairs: Several US government officials stated that the US hopes to reach an agreement and end the conflict. 6. The US mission in Saudi Arabia stated that US government employees traveling to Taif and Yanbu require special permission. 7. Mohsen Rezaei, Secretary of Irans Supreme National Security Council: The US has no choice but to accept Irans conditions. 8. According to Iranian state media: Iranian Foreign Minister Araqchi has left Tehran for New York and will make a brief stop in Qatar. 9. Israeli media: Netanyahus visit to the US is expected to be "unusually short," with him returning to Israel immediately after his speech at the UN General Assembly. 10. Trump responded to returning to the White House early over the weekend and issuing related alerts in several Middle Eastern countries: Its no different from any other weekend. 11. The French Foreign Ministry condemned the Iranian authorities decision to close the French language center in Tehran, and stated that France would first summon the Iranian ambassador. 12. Iranian President Peshichiyan is scheduled to address the UN General Assembly on Wednesday, where he is expected to outline Irans position on international affairs. 13. Trump stated he is open to meeting with the Iranian president at the UN General Assembly; options on the table include allowing Irans economy to continue to deteriorate or reaching an agreement. Trump also indicated he is considering "when and if" to take full-scale military action against Iran.September 21 (Reuters) - Iranian President Sergei Pezechzian plans to address the United Nations General Assembly on Wednesday, outlining Irans position on international affairs, particularly its stance on the aggressive war waged against Iran by the United States and Israel. A high-level delegation will accompany him. Pezechzian will also hold high-level meetings and consultations with leaders of several countries during the UN General Assembly session. President Trump is scheduled to address the General Assembly on Tuesday, having previously stated his openness to meeting with the Iranian president at the assembly.September 21 - According to a report by Al-Masirah TV, controlled by the Houthi rebels in Yemen, Saudi Arabian warplanes attacked a communications tower in Yemens northern Jawf province on September 20, killing four people and injuring three. The report stated that Saudi warplanes attacked the communications tower in the Hab and Shaaf districts of Jawf province, killing four workers and injuring three others. Saudi Arabia has not yet responded to the incident.

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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