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According to the Financial Times: Mercks cancellation of the £1 billion London drug research center plan will deal a blow to UK economic growth.Germanys DAX30 index closed down 100.61 points, or 0.42%, at 23,632.59 points on Wednesday, September 10; Britains FTSE 100 index closed down 19.63 points, or 0.21%, at 9,222.90 points on Wednesday, September 10; Frances CAC40 index closed up 11.93 points, or 0.15%, at 7,761.32 points on Wednesday, September 10; The STOXX 50 index closed down 8.92 points, or 0.17%, at 5,359.90 points on Wednesday, September 10; the Spanish IBEX 35 index closed up 192.26 points, or 1.28%, at 15,216.56 points on Wednesday, September 10; and the Italian FTSE MIB index closed up 35.78 points, or 0.09%, at 42,044.00 points on Wednesday, September 10.The bid-to-cover ratio for the U.S. 4-month Treasury bond auction as of September 10 was 3.26, compared to the previous value of 3.34.The winning rate of the U.S. 4-month Treasury bond auction on September 10 was 3.85%, compared with the previous value of 3.97%.On September 10, the sharp rise in Oracles (ORCL.N) stock price triggered a wave of bullish bets related to the company in the market. In early trading on Friday, the stock soared by nearly 40%, a rise that was more like the performance of a "meme stock" than the norm for technology giants. In just 60 minutes after the opening, the trading volume of call options related to the stock was close to one of the highest levels in the past year. Traders rushed to buy the most aggressive bets - the most popular of which were call options with an exercise price of $350 or $400, while the stock price was about $335 at the time. These contracts give the holder the right to buy Oracle stock at a specific price before a specified date.

Silver Markets Face the Same Headwinds, According to Our Silver Price Predictions

Daniel Rogers

Jun 17, 2022 11:33

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The silver market has opened higher on Thursday, despite the fact that the markets as a whole remain quite volatile. Silver is unpredictable under the best of situations, so it does make a lot of sense that this market finds itself trying to rise to the $22 level again. The $22 level is an area that has been like a magnet for pricing, so it would not surprise me at all to see a bit of hesitancy. In the event that we break above that level, the market will have to contend with the 50-day exponential moving average (EMA).

 

All else being equal, this is a market that continues to find quite a deal of downward pressure, especially since we have just created a significant “H pattern.” If we were to break over the 50 Day EMA, then it may open up a greater move, and breaking above the $23 mark might flip the whole thing around. That said, the bond market and the US dollar will almost certainly have a significant impact on the market. Keep an eye on the US Dollar Index, which has a strong negative association with silver most of the time.

 

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On the downside, the market falling down below the $20.50 level opens up fresh selling, and potentially an effort to move down to the $20 level. If the price of silver breaks through that level, it will throw the market into a tailspin as major selling pressure is released. At this time, I feel that it is more likely than not going to be a “fade the rallies” sort of marketplace.