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August 29th - The Center for Space Application Engineering and Technology, Chinese Academy of Sciences, announced a significant breakthrough in my countrys Earth-Moon laser communication experiment. China successfully established a two-way laser link across a distance exceeding 400,000 kilometers between the Earth and the Moon, achieving high-speed two-way laser communication between the two worlds for the first time. This marks my countrys official entry into lunar space communication from near-Earth orbit.The European-Mediterranean Seismological Centre reported that a 4.9-magnitude earthquake struck off the coast of Northern California, USA, at a depth of 10.0 kilometers.August 29th - US President Trump: New York Governor Kathy Hozul supports Canada, not the United States, and Canada has been taking advantage of New York for years, especially during her tenure. Can you imagine her saying she doesnt respect or recognize "American Lakes"? This is why the "stupid Democrats" are so harmful to our country. Vote for Bruce Blackman as Governor of New York. He has my complete and utter support and will never let you down!On August 29th, CICC pointed out that Federal Reserve Chairman Warshs speech at Jackson Hole was hawkish: he acknowledged that inflation remained high, clarified that interest rates would remain the primary policy tool, and stated that he would "act as needed." He also cited economic resilience, stable employment, and loose financial conditions as evidence that current policy risks are more skewed towards inflation. He also attributed the 65-month period of excessive inflation to the central bank itself, correcting his ambiguous statement in July that "the market should raise rates in place of the Fed." CICC believes this speech helped rebuild the Feds credibility, and the market began trading on the marginal repair of policy credibility afterward. In the long term, Warsh still maintains that AI may reshape the economic and policy framework and continues to push for reforms such as reducing forward guidance. For the market, this statement increased the probability of a Fed rate hike this year, but even so, it is not necessarily purely negative. The market currently does not lack liquidity, but rather policy discipline and predictability. As long as inflation can be suppressed in a timely manner, it will actually benefit the market in the medium term.August 29th - According to the latest data released by the Nepalese police, as of 6:00 AM local time on the 29th, the death toll from flash floods in northern Nepal has risen to 616. Flash floods struck the Rasuwa district in northern Nepal on the 26th. On the 26th, the Nepalese government decided, in accordance with relevant laws, to designate some local administrative units in the affected areas as disaster crisis zones for a period of three months, in order to concentrate relief resources, strengthen personnel management, and advance post-disaster recovery work.

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.