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May 19th news: With the substantial progress of the high-level economic and trade talks between China and the United States, the U.S. stock market has rebounded recently. However, people in the U.S. financial sector have warned that the risk of market volatility caused by the U.S. tariff policy still exists. Perlosky, founder of the U.S. TPW consulting firm, said that the U.S. governments tariff policy has undermined peoples trust in the U.S. government. The current U.S. tariff level is still at a historical high and will continue to impact the U.S. economy. Analysts at UBS Group pointed out that the 10% base tariff imposed by the U.S. government on imported goods may not be reduced through trade negotiations. The additional tariffs may lead to a slowdown in the U.S. economic growth and push up prices. Continued uncertainty may trigger further market fluctuations. U.S. media reported that people in the financial sector expect that if there is no specific solution to the trade dispute caused by the U.S. tariff policy, the U.S. stock market may fall again.The UK Rightmove average house asking price index rose 1.2% year-on-year in May, compared with 1.30% in the previous month.The UK Rightmove average house asking price index rose by 0.6% month-on-month in May, compared with 1.40% in the previous period.On May 19, the article stated that where the world is going depends largely on the strategic choices of major powers. If trust and cooperation consensus are established between major powers, then the sense of cooperation in the international community will become popular and continue to develop in various fields; on the contrary, if major powers are suspicious of each other and confrontation prevails, then it will be difficult for the international community to form a consensus on cooperation, let alone the results of cooperation. There is no way out of confrontation, and cooperation is what people want and the general trend. The world should cooperate instead of confrontation. This is the requirement of the times and the inevitable choice for the development of human society.The railroad strike in New Jersey, USA, ends.

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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