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U.S. Secretary of State Marco Rubio: Whenever Iran tries to attack U.S. Navy ships, they lose oil tankers.According to CMEs "FedWatch": the probability of the Federal Reserve keeping interest rates unchanged by September is 40.6%, and the probability of a cumulative rate hike of 25 basis points is 59.4%. The probability of the Federal Reserve keeping interest rates unchanged by October is 29.8%, the probability of a cumulative rate hike of 25 basis points is 54.4%, and the probability of a cumulative rate hike of 50 basis points is 15.8%.According to Sepahnews, a media outlet affiliated with the Iranian Revolutionary Guard, Irans tough response continues.According to Sepahnews, a media outlet affiliated with the Iranian Revolutionary Guard, Iranian missiles struck US targets in Jordan.Conflict Update: 1. The Houthi rebels announced a broad military operation deep within Saudi territory. 2. The Houthis claimed that there is "no safe place" in Saudi Arabia and that all energy facilities are legitimate targets. 3. According to Al-Masirah TV, controlled by the Houthis, Saudi Arabia launched four airstrikes on Marib, Yemen. 4. Energy and utility facilities in southern Saudi Arabia were attacked by the Houthis, temporarily suspending some operations. 5. Iran claimed to have seized the "worlds most advanced intelligent unmanned submarine." 6. Alerts were issued in Jizan, Najran, and Abha provinces of Saudi Arabia, but were subsequently lifted. 7. US officials responded to Irans "seizure" of an underwater drone: the equipment was malfunctioning and contained no sensitive data. 8. Iranian media reported explosions near Kharg Island and Jask region of Iran. 9. Irans Tasnim News Agency reported that an Iranian oil tanker was attacked by a US missile four miles from Kharg Island. No casualties were reported, and the tanker crew is being evacuated. 10. According to Fox News: Senior U.S. officials stated that the U.S. militarys attacks on targets near Kharg Island and Jask, involving Iranian oil tankers, are part of the U.S. effort to exert economic pressure by weakening Irans oil export capabilities. 11. The Iranian Revolutionary Guard Navy stated that in response to the U.S. attacks on multiple Iranian oil tankers, it will issue warnings to all oil tankers docked in Kuwaiti and Bahrain ports and anchorages, demanding that crew members immediately evacuate their vessels, and stating that these ships will become targets. Strait of Hormuz 1. According to Saudi media Alhadath: Iran and the U.S. are exchanging views on negotiation plans and conditions through mediators. Iran has presented new conditions for resuming negotiations to the U.S. Iran stated that there is no need to withdraw from the memorandum of understanding with the U.S. 2. According to Iranian state media: The Iranian Joint Military Command stated that if Iranian ships are attacked, it will "severely damage" U.S. interests in the Middle East. Other Matters 1. The U.S. Treasury Department issued a new round of sanctions related to Iran. 2. Saudi Foreign Minister: Diplomatic channels with the Houthis remain open. 3. U.S. officials: If the UK sanctions Israeli settlements, there will be an immediate response. 4. International Organization for Migration: Fighting escalates off Yemens west coast, displacing approximately 18,500 people in three days. 5. Israeli Prime Minister Netanyahu: We are approaching a decisive moment in our confrontation with the "octopus" (Iran and its regional allies network). 6. US media: US officials say recent Iranian actions against US warships suggest the possibility of Iran using more advanced missiles.

Silver Price Analysis: Bulls maintain control of the XAGUSD and could target the $22.50 supply zone

Alina Haynes

Nov 11, 2022 17:35

 截屏2022-11-08 下午5.37.02_1024x576.png

 

On Friday, silver extends its breakout momentum through the extremely significant 200-day simple moving average for a second consecutive session. During the early European session, the white metal reaches a five-month high, but struggles to achieve acceptance beyond the $22.00 round-figure threshold. However, the XAGUSD maintains its intraday gains and is currently trading in the $21.85-$21.90 range, up about 0.90% for the day.

 

The overnight rise from levels below $21.00 and subsequent strength above a technically key moving average bolster the likelihood of a near-term advance. However, the RSI (14) on the daily chart is close to entering overbought territory and aggressive bullish traders should proceed with caution. Before positioning for further gains, it is recommended to wait for some near-term consolidation or a slight drop.

 

Nevertheless, the XAGUSD is prepared to surpass $22.00 and may seek to test the next significant barrier near $22.45-$22.50. The aforementioned region represents a dense supply zone and may prove difficult for bulls to penetrate. However, some follow-through purchasing will signal a new breakout and pave the way for a move toward recovering the $23.00 round number. The momentum might eventually propel spot prices to a May swing high in the vicinity of $23.25 to $23.30.

 

In contrast, the daily low around $21.45 that coincides with the 200 DMA breakout point should protect the downside in the short term. Any more decline could be viewed as a buying opportunity and should be limited near $21.00. A decisive breach below might spark technical selling and bring the XAGUSD below the $20.40 support zone. Failure to defend the previously mentioned support levels could shift the near-term bias toward bearish traders.

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