EUR/USD 1.17743
-0.026%
Gold 4531.31
1.129%
Oil 56.825
-2.374%
USD/JPY 156.488
0.356%
GBP/USD 1.35028
-0.027%
GBP/JPY 211.305
0.408%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian Foreign Minister Kuleba: Water supply has been restored in Kyiv and surrounding areas.Sudans Rapid Support Force (RSF): On Saturday, the RSFs air defense forces shot down a Turkish-made Bairaktar drone in the Brno region of South Kordofan province.The mayor of Moscow stated that three drones heading towards Moscow have been shot down. Emergency services are working at the crash site.December 27th - In recent months, the US government has escalated its military threats and sanctions against Venezuela, leading to the disruption of numerous international shipping routes and severe disruptions to maritime logistics. Venezuela is experiencing shortages of some medicines and medical equipment, with the prices of some life-saving drugs soaring to levels unaffordable for ordinary citizens. A reporter from CCTV visited a large pharmacy in the northeastern suburbs of Caracas, the Venezuelan capital. Local consumers can still purchase common medicines there, but some antibiotics are sold out. Furthermore, some emergency medicines and medical supplies are prohibitively expensive. For example, the only insulin injector sold there costs more than three times the price of similar products on the international market. It is understood that Venezuela relies on imports for 90% of its pharmaceutical raw materials, and medical equipment such as monitors and anesthesia machines are almost entirely dependent on overseas supplies.Ukrainian President Zelensky: The security guarantees provided by the United States will depend on what US President Trump is prepared to provide.

Silver Price Analysis: XAG / USD declines from a crucial EMA confluence below $22.00

Alina Haynes

Mar 16, 2023 13:51

As it consolidates the previous day's gains and extends a retracement from a five-week high, the silver price (XAG/USD) retests its intraday low near $21.70 early Thursday. In doing so, the precious metal represents the fourth consecutive day that it has failed to cross the convergence of the principal Exponential Moving Averages (EMAs).

 

In spite of this, the 50-EMA joins the 100-EMA and 200-EMA in highlighting the $21.80-$90 region as a difficult nut to break for Silver buyers.

 

Nonetheless, bullish MACD signals and an upward-sloping trend line from early September 2022 limit the immediate downside of the XAG / USD around $20.00.

 

Prior to that, the previous weekly highs of approximately $21.30 and $20.00 could entice the Silver bears.

 

In the event that the Silver price remains adverse beyond $20.00, a decline to the November 2022 low near $18.80 cannot be ruled out.

 

On the other hand, a daily close above $21.90 appears required for the XAG / USD investors to regain control.

 

Even so, the $22.00 threshold and January's low near $22.75 could present a challenge to Silver purchasers before they gain control.

 

Overall, the Silver price does not enter the buyer's radar until it surpasses $21.90. However, the negative appears to be limited as well.


Suggestion