EUR/USD 1.17919
0.283%
Gold 4840.51
2.115%
Oil 88.835
-4.168%
USD/JPY 158.858
-0.368%
GBP/USD 1.35646
0.431%
GBP/JPY 215.489
0.068%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Wall Street Journal, European countries are drafting a plan to form a broad, multinational alliance to help clear shipping lanes in the Strait of Hormuz. However, the plan would only be implemented after the war and might exclude the United States.According to Fox News: U.S. Representative Eric Swalwell (Democrat from California) and Representative Tony Gonzalez (Republican from Texas) have officially resigned from their seats in Congress. The House Clerk read their resignation letters.On April 15th, according to AXIOS, the Trump administration eased sanctions on Venezuelas state-owned financial system on Tuesday. Venezuelan state-owned banks and other large financial institutions can now legally use US dollars, directly receive billions of dollars in oil sales revenue, and re-enter the global financial system to support their damaged economy. This move by the US Treasury Department also aims to boost Venezuelas oil industry and stabilize the new government led by acting president Rodriguez. Following the US takeover and detention of former President Maduro on January 3rd, the US seized control of Venezuelas state-owned oil company, PDVSAs, oil revenues. However, subsequent administrative obstacles imposed by US financial sanctions delayed the transfer of billions of dollars to the Venezuelan central bank and slowed the countrys energy development projects. This is not a complete lifting of sanctions, but rather the issuance of licenses through the Treasury Departments Office of Foreign Assets Control (OFAC) to specific financial institutions, enabling them to participate in the US financial system.The U.S. Treasury Department announced that short-term permits allowing the sale of Iranian oil will not be renewed after they expire in the coming days.U.S. Senate Republican Leader Thune: Most of us are satisfied with the U.S.’s achievements in Iran.

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