EUR/USD 1.14753
0.159%
Gold 4155.53
-1.272%
Oil 76.425
1.330%
USD/JPY 161.286
-0.058%
GBP/USD 1.32328
0.217%
GBP/JPY 213.428
0.168%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 20 – According to the Iranian Students News Agency, the deputy head of international affairs at the Iranian Judicial Centers Lawyers Center stated: "Those claiming that Iran is not qualified to levy service fees on the Straits typically cite the 1982 United Nations Convention on the Law of the Sea (UNCLOS). However, Iran is not a member state of UNCLOS and therefore is not bound by the transit regime stipulated in the Convention. In international maritime law, charging fees for actual and clearly defined services is a recognized legal practice. Iran can charge fees for the services it provides, provided that the fees are consideration for the services provided and not simply taxes or tolls."June 20th - Several European countries have recently experienced high temperatures. The French meteorological service announced on the 19th that starting from the 20th, the number of provinces under an orange heatwave warning will increase to 60, representing approximately two-thirds of all French provinces.On June 20th, the Russian Ministry of Defense released a weekly combat report showing that from June 13th to 19th, the Russian military carried out multiple large-scale strikes against targets including Ukrainian defense industrial complexes, fuel and energy facilities, transportation and port facilities used by the Ukrainian military, and Ukrainian military airfields. In addition, Russian air defense systems shot down a total of 3,909 Ukrainian fixed-wing drones.According to RIA Novosti, Slovakia will meet most of its natural gas needs through supplies from Russia.World Bank: In March, the World Banks natural gas price index rose by 24%, while the benchmark price of LNG in Asia surged by about 94% and the benchmark price in Europe rose by 59%.

Silver Price Analysis: Near 50 DMA, XAG/USD rises to mid-$23.00s

Alina Haynes

Feb 03, 2023 15:21

Silver attracted buyers around its 50-day simple moving average (SMA) on Friday, halting its previous day's regression from its highest level since April 2022. In the early European session, the precious metal maintains a moderately bullish tone, although the intraday increase lacks bullish confidence.

 

The XAG/USD has formed a rectangle pattern on the daily chart during the previous half-month, bouncing in a typical range. This indicates traders' hesitation and calls for care before putting aggressive direction bets. The inability to gain acceptance above the $24.50 supply zone overnight validates the trading range resistance, which should now serve as a pivot point.

 

Given that technical indications on the daily chart have only recently begun to drift into negative territory, it would be smart to await a sustained advance beyond the aforementioned barrier before putting bullish wagers. The XAG/USD pair might then attempt to recapture the $25.00 psychological level for the first time since April 2022. On the way to $26.00, the momentum could be extended towards the next significant obstacle near the $25.35 region.

 

Conversely, any further decline below the horizontal zone between $23.40 and $23.30 may continue to find support around the $23.00 to $22.95 region. This is followed by support in the $22.75 range, which, if forcefully broken, could pull the XAG/USD to the next key support near the $22.20-$22.15 zone before the $22.00 level.


Suggestion