• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hong Kong-listed application software stocks weakened amid volatility, with Kingdee International (00268.HK) falling more than 8%, followed by declines in Kingsoft (03888.HK) and Tuya Smart (02391.HK).Foxconn: Will increase production in the United States, including Texas and Wisconsin.Foxconn: Production will be expanded in Taiwan, the United States, Mexico and Vietnam.Futures News, August 12th: Shanghai Futures Exchange (SHFE) precious metals and non-ferrous metals warehouse receipts and changes on August 12th: 1. Copper futures warehouse receipts: 24,131 tons, an increase of 953 tons compared to the previous trading day; 2. Aluminum futures warehouse receipts: 303,168 tons, a decrease of 1,023 tons compared to the previous trading day; 3. Zinc futures warehouse receipts: 110,721 tons, an increase of 396 tons compared to the previous trading day; 4. Lead futures warehouse receipts: 61,228 tons, an increase of 301 tons compared to the previous trading day; 5. Nickel futures warehouse receipts: 100,769 tons, a decrease of 158 tons compared to the previous trading day. 6. Tin futures warehouse receipts: 5,199 tons, up 136 tons from the previous trading day; 7. Alumina futures warehouse receipts: 264,286 tons, unchanged from the previous trading day; 8. Alumina futures factory warehouse receipts: 9,300 tons, unchanged from the previous trading day; 9. Gold futures warehouse receipts: 113,676 kg, unchanged from the previous trading day; 10. Silver futures warehouse receipts: 1,305,953 kg, up 5,003 kg from the previous trading day; 11. International copper futures warehouse receipts: 5,651 tons, down 251 tons from the previous trading day.US July Seasonally Adjusted CPI MoM (Previous: -0.4%; Expected: 0.1%) 1. Capital Economics: +0.0%; Citigroup: +0.0%; Mizuho Securities: +0.0%; ANZ: +0.1%; Bank of America Merrill Lynch: +0.1%; 2. Tesco Bank: +0.1%; Commerzbank: +0.1%; Goldman Sachs: +0.1%; HSBC: +0.1%; Morgan Stanley: +0.1%; 3. JPMorgan Chase: +0.1%; Pansen Macro: +0.1%; Moodys Analytics: +0.1%; ING: +0.1%; NatWest: +0.1%; 4. Nomura Securities: +0.1%; Oxford Economics: +0.1%; RBC: +0.1%; Sumitomo Mitsui: +0.1%; Lloyds Banking Group: +0.1%; 5. Nordea: +0.1%; Steifel: +0.1%; UBS: +0.1%; Vanguard: +0.1%; Spartan Capital: +0.1%; 6. Wells Fargo: +0.1%; Montreal: +0.2%; BNP Paribas: +0.2%; Berenberg: +0.2%; Barclays: +0.2%; 7. High Frequency Economics: +0.2%; Scotiabank: +0.2%; Societe Generale: +0.2%; Danske Bank: +0.2%; Deutsche Bank: +0.2%; 8. Standard Chartered: +0.2%; TD Securities: +0.2%; UniCredit: +0.2%; Westpac: +0.2%; Jefferies: +0.3%. US July seasonally adjusted core CPI month-on-month rate (previous value: +0.0%, expected value: +0.2%) 1. Mizuho Securities: +0.1%; Sparta Capital: +0.1%; ANZ: +0.2%; Montreal: +0.2%; BNP Paribas: +0.2%; 2. Bank of America Merrill Lynch: +0.2%; Barclays: +0.2%; CIB: +0.2%; Capital Economics: +0.2%; Citigroup: +0.2%; 3. Commerzbank: +0.2%; Danske Bank: +0.2%; Goldman Sachs: +0.2%; HSBC: +0.2%; Steifelr: +0.2%; 4. ING: +0.2%; Lloyds Banking Group: +0.2%; JPMorgan Chase: +0.2%; Oxford Economics: +0.2%; Wells Fargo: +0.2%; 5. Nomura Securities: +0.2%; Morgan Stanley: +0.2%; Pansen Macro: +0.2%; Sumitomo Mitsui: +0.2%; Nordea: +0.2%; 6. Societe Generale: +0.2%; Westpac: +0.2%; UBS: +0.2%; Standard Chartered: +0.2%; TD Securities: +0.2%; 7. UniCredit: +0.2%; NatWest: +0.2%; Deutsche Bank: +0.3%; Moodys Analytics: +0.3%; Scotiabank: +0.3%.

Silver Price Analysis: Bulls maintain control of the XAGUSD and could target the $22.50 supply zone

Alina Haynes

Nov 11, 2022 17:35

 截屏2022-11-08 下午5.37.02_1024x576.png

 

On Friday, silver extends its breakout momentum through the extremely significant 200-day simple moving average for a second consecutive session. During the early European session, the white metal reaches a five-month high, but struggles to achieve acceptance beyond the $22.00 round-figure threshold. However, the XAGUSD maintains its intraday gains and is currently trading in the $21.85-$21.90 range, up about 0.90% for the day.

 

The overnight rise from levels below $21.00 and subsequent strength above a technically key moving average bolster the likelihood of a near-term advance. However, the RSI (14) on the daily chart is close to entering overbought territory and aggressive bullish traders should proceed with caution. Before positioning for further gains, it is recommended to wait for some near-term consolidation or a slight drop.

 

Nevertheless, the XAGUSD is prepared to surpass $22.00 and may seek to test the next significant barrier near $22.45-$22.50. The aforementioned region represents a dense supply zone and may prove difficult for bulls to penetrate. However, some follow-through purchasing will signal a new breakout and pave the way for a move toward recovering the $23.00 round number. The momentum might eventually propel spot prices to a May swing high in the vicinity of $23.25 to $23.30.

 

In contrast, the daily low around $21.45 that coincides with the 200 DMA breakout point should protect the downside in the short term. Any more decline could be viewed as a buying opportunity and should be limited near $21.00. A decisive breach below might spark technical selling and bring the XAGUSD below the $20.40 support zone. Failure to defend the previously mentioned support levels could shift the near-term bias toward bearish traders.