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On March 26, Huang Xinyu, Director of the Medical Service Management Department of the National Healthcare Security Administration, stated at a press conference held by the State Council Information Office that the "Opinions on Accelerating the Establishment of a Long-Term Care Insurance System" stipulates that a long-term care insurance system adapted to my countrys basic national conditions should be basically established within approximately three years. By the end of 2028, this system should achieve basic full coverage nationwide. In terms of coordination, it can start with city-level coordination, or explore provincial-level coordination based on local conditions. Cities with the necessary conditions can proceed first, while those without can solidify their conditions before implementation. In general, there will be no "uniform approach" or "one-size-fits-all" approach.The CEO of Abu Dhabi National Oil Company stated: When Iran uses the Strait of Hormuz as leverage, people in every country around the world will pay the price at gas stations, supermarkets, and pharmacies. No country should be allowed to disrupt the global economy in this way, not now, and never in the future.The CEO of Abu Dhabi National Oil Company (ADNOC) stated that weaponizing the Strait of Hormuz is "economic terrorism."On March 26th, the overnight SHIBOR was 1.3200%, up 0.10 basis points; the 7-day SHIBOR was 1.4380%, up 0.30 basis points; the 14-day SHIBOR was 1.5060%, down 0.52 basis points; the 1-month SHIBOR was 1.5030%, down 0.15 basis points; and the 3-month SHIBOR was 1.5135%, down 0.20 basis points.The most active palladium futures contract fell 4.00% intraday, currently trading at 357.85 yuan/gram. The most active platinum futures contract saw its intraday decline widen to 3.48%, currently trading at 493 yuan/gram.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.


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