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Investment bank Stifel raised its price target for Micron Technology (MU.O) from $550 to $1,500.June 18 - Ship tracking data from an international shipping information platform showed that three Saudi-flagged oil tankers carrying a total of 6 million barrels of crude oil passed through the Strait of Hormuz on the 18th.On June 18th, it was reported that on June 17th, the General Office of the Anhui Provincial Peoples Government officially issued the "Anhui Province Low Altitude+ Application Scenarios Expansion Project Action Plan (2026-2028)," clarifying the provinces three-year work goals, key tasks, and promotion measures for the low-altitude economy. According to the plan, by 2028, Anhui Province aims to achieve 5 million hours of annual low-altitude flight time, gather over 300 low-altitude operation companies, and cumulatively build 100 low-altitude application demonstration scenarios, forming a development model that is safe, commercially sustainable, and easily accepted by the public.On June 18th, the Sichuan Provincial Development and Reform Commission issued the "Several Policy Measures of Sichuan Province to Support Green and Low-Carbon Development." Among them, it proposes to support interest subsidies for equipment renewal loans. For eligible equipment renewal loans, in addition to the central governments 1.5 percentage point interest subsidy, extra interest subsidies will be provided through ultra-long-term special treasury bonds as stipulated. For eligible "technological upgrading loans" and "equipment renewal loans," a provincial government interest subsidy of 1.5% per annum will be provided for a period not exceeding one year. Multiple technological upgrading or equipment renewal loans implemented by a single enterprise can be consolidated and submitted together, with a maximum annual provincial government interest subsidy of 5 million yuan per enterprise. Banks are encouraged to proactively apply for interest subsidy funds and promptly disburse them to enterprises, reducing their financing costs for equipment renewal.On June 18, the Sichuan Provincial Development and Reform Commission issued the "Several Policy Measures of Sichuan Province to Support Green and Low-Carbon Development." The measures propose guiding financial institutions to launch green and low-carbon transformation financial products and services. Focusing on 10 industries, including steel, coal power, building materials, ceramics, textiles, petrochemicals, chemicals, aluminum, water transportation, and agriculture, diversified financial services and policy support will be provided to entities financing transformation. Cities and prefectures with suitable conditions are encouraged to expand the coverage of green finance fiscal-financial interaction policies and provide fiscal subsidies for transformation financial activities. The progress of financial institutions transformation finance activities will be included in the Peoples Bank of Chinas green finance assessment.

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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