EUR/USD 1.16198
-0.113%
Gold 4360.68
-0.929%
Oil 96.301
2.217%
USD/JPY 154.016
0.305%
GBP/USD 1.35166
-0.217%
GBP/JPY 208.182
0.105%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
A spokesperson for the Houthi rebels in Yemen stated that freedom of navigation and international trade in the Red Sea and the Bab el-Mandeb Strait remain safe, unimpeded, and unhindered.According to Politico: OpenAI seeks to ensure that its models do not compromise power grid safety.According to Politico: OpenAI has held discussions with power companies regarding ensuring grid security.Polish Prime Minister Tusk: We expect more attacks on border crossings, similar to the situation on the border between Ukraine and Moldova.On September 10th, European Central Bank (ECB) President Christine Lagarde emphasized the uncertainty of the outlook at her post-policy press conference. Following Thursdays hawkish statement, financial markets are now almost evenly divided on whether the ECB will raise interest rates again next month. The ECB raised rates by 25 basis points to 2.5% on Thursday, in line with expectations. However, according to LSEG data, the probability of a rate hike on October 29th is currently 49%; if not, the probability of a hike before December 17th is 89%, and the probability of the deposit rate reaching 3% before Christmas is 36%. ECB staff raised their inflation forecasts for 2027 and 2028, citing inflationary pressures from the Middle East conflict, and also raised their GDP growth forecasts for 2026 and 2027, citing "the eurozone economys resilience exceeding expectations." The ECB stated that the outlook remains highly uncertain, a point Lagarde attempted to convey at her post-policy press conference. She said the uncertainty is so great that the situation could change overnight—for example, with rising diesel prices. "We simply cannot predict what will happen next," Lagarde said.

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.


Suggestion