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On September 20, Rezaei, Secretary of Irans Supreme National Security Council, stated that Iran is continuing mediation efforts through Qatar and Pakistan and has informed the relevant intermediaries of its negotiating conditions. Rezaei said that Qatar has conveyed Irans ceasefire conditions to Washington, and Iran is currently awaiting a response from US President Trump. Rezaei stated that Irans conditions for ending the war include ending the conflict on all fronts, releasing frozen assets, and lifting the naval blockade. He stated that it is in Washingtons interest for the US to accept Irans conditions, and that Trumps threats will not yield results. On the nuclear issue, Rezaei stated that the actions of the US and Israel provide Iran with grounds to withdraw from the Treaty on the Non-Proliferation of Nuclear Weapons, but Iran has not yet made a decision to withdraw, and the future will depend on Washingtons actions. He also emphasized that Iran remains committed to the nuclear ban established by the late Supreme Leader, and its nuclear policy remains unchanged. Furthermore, Rezaei stated that Iran hopes to end the war between Saudi Arabia and the Houthi rebels in Yemen and believes that Yemen also desires an agreement with Saudi Arabia. Rezaei stated that Iran is prepared for an escalation of the conflict and warned that if attacked, Iran will strike US bases and interests in the Middle East.Domestic News: 1. The Ministry of Commerce responds to the US imposing tariffs on imports of Russian oil and gas from third countries. 2. The Ministry of Commerce: Vice Premier He Lifeng will lead a delegation to the US from September 19th to 23rd to hold trade consultations with the US side. 3. Beijing Municipal Administration for Market Regulation: Investigates four online hotel and travel booking platforms in accordance with the law. 4. The Chinese Embassy in Saudi Arabia reminds Chinese-funded institutions and Chinese citizens in Saudi Arabia to further strengthen security precautions. 5. my country successfully launched the Zhuzhou Space PIESAT-2 13-16 satellites. International News: 1. Bolivia cancels diesel subsidies to cope with fuel shortages. 2. SpaceXs weighting in the Nasdaq 100 index will increase to 2.82%. 3. Trump bans five media outlets from entering the White House; CNN, MS NOW, and Politico confirmed they were denied entry. 4. British media: OpenAI expects to burn through nearly $280 billion in cash over the next five years, with revenue expected to increase tenfold. 5. US Media: AI giants like Anthropic and OpenAI face conspiracy charges for calling for a coordinated slowdown in AI development. 6. Middle East Situation—① Riyadh, the Saudi capital, was attacked by airstrikes; a Saudi Aramco fuel storage tank near Riyadh airport caught fire. ② Foreign Media: Saudi Arabia made a rare request for assistance to Israel. ③ Iranian Sources: The US says it is ready to negotiate with Iran. ④ Iranian and Pakistani Foreign Ministers spoke by phone to discuss regional developments. ⑤ US Central Command Commander: The US has assisted in the passage of over 1 billion barrels of oil through the Strait of Hormuz in the past two months. Mines in the main navigation channels of the Strait of Hormuz have been cleared.U.S. Defense Secretary Hergsays: If you challenge the U.S. armed forces, defeat will be your fate. Under Trumps leadership, the world has learned that we fight only to win.The 29th Beijing-Taiwan Science and Technology Forum, themed "Technology Leading Industrial Integration and Digital Empowerment for a Healthy Future," opened in Beijing on September 19th. Guests from both sides of the Taiwan Strait discussed technological innovation and industrial cooperation. The forum also included a signing ceremony for cross-strait economic and technological cooperation projects and a signing ceremony for partners in the cross-strait smart healthcare industry cooperation alliance. The 29th Beijing-Taiwan Science and Technology Forum is hosted by the Taiwan Affairs Office of the State Council and the Beijing Municipal Government, and organized by the Beijing Municipal Taiwan Affairs Office and the Beijing Economic-Technological Development Area Management Committee. Other forum activities include the Beijing-Taiwan AI+Green Development Forum, the Cross-Strait Smart Healthcare Industry Cooperation Forum, and the Cross-Strait Dialogue on AI Technology in Traditional Chinese Medicine.According to CNN: A CNN reporter was denied entry to the White House this morning local time, and his press pass was confiscated. This comes a day after Trump announced a "ban" on CNN, MS NOW, and Politico media outlets.

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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