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US President Trump: I think we are closer to our goal (reaching a ceasefire between Russia and Ukraine) than ever before.On December 16th, the FBI announced the arrest of four suspects on December 15th for plotting bomb attacks at multiple locations in California on New Years Eve. FBI Director Cash Patel posted on social media that the FBI thwarted a "credible and imminent terrorist threat" and arrested four individuals with ties to the Los Angeles area. These individuals identified themselves as members of a radical wing of the far-left group "Turtle Island Liberation Front" and are suspected of planning attacks using improvised explosive devices at five different locations in the Los Angeles area on New Years Eve. "Turtle Island" is an English name for North America.On December 16th, the Argentine government of President Millai announced adjustments to its monetary policy, stating it would begin an initiative to accumulate its depleted foreign exchange reserves. This represents a step closer to the free-floating exchange rate that investors have long desired. Starting in 2026, the pesos trading band will expand at the same rate as monthly inflation, instead of the current 1%. Novembers price increases of 2.5% mean that the trading band could expand at more than twice the current rate in the short term. The central bank stated on Monday that it will also begin accumulating reserves, with a base case scenario target of purchasing $10 billion next year, the specific amount potentially increasing based on currency demand. Following this news, Argentine sovereign bonds surged across the board. The more liquid bonds maturing in 2035 rose by more than 1 cent, reaching nearly 73 cents.On December 16th, local time, Ukrainian President Volodymyr Zelensky and German Chancellor André Merz held a joint press conference in Berlin. Zelensky stated that the US delegation did not make any demands on Ukraine regarding territorial concessions, but merely conveyed Russias position. Regarding the question of whether the US demanded Ukraine withdraw from the Donetsk region, Zelensky said: "I dont think the US made any demands. I believe we are strategic partners. Therefore, I would put it this way: we have heard statements from the US regarding Russian territorial claims or demands. We consider these to be Russian demands." He also stated that Ukraine had conveyed its position to the US.Lockheed Martin (LMT.N) has completed production of its first F-16 Block 70 fleet, delivering them to Bulgaria and Slovakia.

Silver Price Analysis: XAG/USD snaps a four-day downtrend as bulls approach the $22.30 resistance level

Alina Haynes

Feb 08, 2023 11:55

截屏2022-06-06 下午5.54.42.png 

 

Silver price (XAG/USD) purchasers tussle with the important Exponential Moving Average (EMA) barrier as the precious metal recovers from a two-month low to post its first daily gains in five sessions, gaining 0.60% intraday near $22.30 on Wednesday morning.

 

In doing so, the XAG/USD touches the 100-exponential moving average while recouping recent losses. Silver buyers are challenged by the bearish MACD signals and the metal's selling below the previous support line from early December 2022, which is now a resistance line around $23.05

 

Nevertheless, a decisive upside breach of the 100-EMA barrier near $22.30 might propel the price fast to $23.00 before exposing the support-turned-resistance line near $23.05

 

Multiple resistances could then confront Silver investors at $23.20 and $24.30 before pushing the price toward the monthly high of $24.63.

 

The 200-EMA and 38.2% Fibonacci retracement level of the metal's uptrend from September 2022 to early February 2023 provide significant support between $22.00 and $21.95.

 

In the event that Silver remains bearish beyond $21.95, the 50% and 61.8% Fibonacci retracements near $21.10 and $20.25 could pose a challenge to the XAG/USD bears. Also serving as a negative filter is the $20.00 round number.

 

Overall, the Silver price is likely to rise, but the bulls are still a long way from regaining control.