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According to Iranian reports, more than 200 enemy aircraft have been shot down in the recent conflict.On August 17th, Alexander Stepanov, a military expert at the Institute of Law and National Security of the Russian Presidential Academy of National Economy and Public Administration (RANEPA), stated that Irans resistance to the US military presence in the Middle East has seriously challenged the feasibility of deploying its carrier strike groups. Stepanov stated that aircraft carriers are among the most expensive tools for projecting US military power, but their effectiveness has been severely diminished due to their inherent weaknesses and the lack of adequate means to protect such large, high-value assets. He further pointed out that the more than 260-day deployment at sea and the inherent vulnerabilities of the ships themselves have placed a heavy burden on the crews. This is the longest mission to date, yet it has yielded almost no substantial military results.On August 17th, according to reports from the Ukrainian Air Force and local officials on social media, Russian forces launched attacks on 16 locations in Sumy, Odessa, and Kharkiv regions from the evening of the 16th to the early morning of the 17th. As of the morning of the 17th, the attacks had resulted in at least two deaths and 11 injuries. The Ukrainian Air Force stated on the morning of the 17th that Russian forces launched 128 drones into Ukrainian territory from the evening of the 16th to the early morning of the 17th. As of 8:30 AM on the 17th, Ukrainian air defense and electronic warfare units had intercepted 106 drones. The Ukrainian State Emergency Service stated on the morning of the 17th that Russian forces launched attacks on Sumy region in the early hours of the day, targeting residential buildings and structures, resulting in two deaths and one injury.On August 17, according to a statement from the Iraqi Kurdistan Regional Governments (KRG) Anti-Terrorism Directorate, at 00:28 local time, two Hadid-110 drones loaded with explosives took off from the Iranian border, targeting the KRG Prime Ministers office and the residence of the KRG Security Director in the Pilm district of Erbil province. No casualties were reported. The statement strongly condemned the attack and act of aggression, reiterating that these actions were "completely unacceptable" and that all perpetrators would be held accountable.On August 17, local time, Yadora Javani, deputy political commander of the Iranian Islamic Revolutionary Guard Corps, said: "The Strait of Hormuz will be reopened once the United States fulfills its commitments under the Islamabad memorandum."

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.