EUR/USD 1.15248
-0.732%
Gold 4318.68
-3.497%
Oil 88.549
-2.697%
USD/JPY 160.177
0.098%
GBP/USD 1.33372
-0.643%
GBP/JPY 213.636
-0.547%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 7th - According to CNBC, citing three OPEC+ sources, OPEC+ will agree on Sunday to raise its oil production targets for the fourth time in just a few months, despite the ongoing conflict between the US and Iran hindering several member countries from increasing oil production. The seven core OPEC+ members increased their production quotas by nearly 600,000 barrels per day between April and June. In fact, the organizations production has already declined significantly due to export cuts by Gulf members. According to OPEC data, average production in April was 33.19 million barrels per day, down from 42.77 million barrels per day in February. Sources say the seven members are likely to decide on Sunday to raise their production targets by approximately 188,000 barrels per day starting in July, the same increase as in June.June 7 – From June 5 to 7, a delegation of Chinese entrepreneurs organized by the China Council for the Promotion of International Trade (CCPIT) visited Belarus to further implement the important consensus reached by the two heads of state, strengthen practical cooperation between China and Belarus, and promote the continued high-level development of the all-weather comprehensive strategic partnership between the two countries. During the visit, the CCPIT, together with the China-Belarus Industrial Park and the Belarusian National Agency for Investment and Privatization, co-hosted the China-Belarus Industrial and Investment Cooperation Forum in Minsk. Vice President Han Zheng attended and delivered a speech, along with Belarusian First Deputy Prime Minister Snopkov and Belarusian Minister of Economy Chebotali. More than 400 representatives from the political and business sectors of both countries participated in the forum. Enterprises from both sides focused on in-depth exchanges and negotiations in areas such as agriculture, high-end equipment manufacturing, pharmaceuticals and healthcare, artificial intelligence, new materials, and digital technology, achieving several results. CCPIT Chairman Ren Hongbin presided over the opening ceremony.According to NEWSIS, a private South Korean news agency, Nvidia (NVDA.O) CEO Jensen Huang and SK Group Chairman Chey Tae-won will announce a collaboration plan on Monday.The China Earthquake Networks Center officially reported that a magnitude 6.0 earthquake struck the Kuril Islands at 18:41 on June 7, with a focal depth of 30 kilometers.Invesco Great Wall Global Chip LOF (501225): This fund will be suspended from trading starting from the opening of the market on June 8, 2026, and will resume trading at 10:30 on the same day. During the suspension period, the redemption business of this fund will continue as usual.

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