EUR/USD 1.15987
-0.078%
Gold 4581.86
-0.741%
Oil 59.259
0.228%
USD/JPY 158.072
-0.341%
GBP/USD 1.33795
-0.019%
GBP/JPY 211.500
-0.349%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Musk: Our AI5 chip design is nearing completion, while AI6 is still in its early stages.Ukrainian President Zelenskyy has ordered the import of electricity and additional power equipment to be expedited as much as possible.On January 17, the worlds first legally binding international convention on the protection of biodiversity in the high seas—the Agreement on Marine Biodiversity—officially entered into force, marking a historic moment for global ocean conservation after nearly 20 years of negotiations. According to the Agreement, signatory states must strengthen cooperation in marine science and technology and support developing countries in improving their ocean governance capabilities. Companies planning activities that may harm marine ecosystems must conduct environmental impact assessments according to the Agreements standards. Marine biological research involving commercial development must be reported to the international community and its findings shared. As of the day before the agreements entry into force, 83 countries had completed the ratification process, including major maritime powers such as China. The United States, while having signed the agreement, has not yet ratified it and therefore can only participate in subsequent meetings as an observer, without voting rights.Irans Supreme Leader Ayatollah Khamenei: Those with ties to Israel and the United States caused massive destruction and resulted in the deaths of thousands during the protests.On January 17, Iranian Supreme Leader Ayatollah Khamenei met with thousands of people from various sectors of society in Tehran and addressed the nation on the recent situation. Khamenei stated that because US President Trump has caused casualties and losses in Iran and slandered the Iranian people, "we consider him a criminal." Khamenei elaborated on the nature of the recent unrest and Irans responsibility in dealing with the situation, emphasizing the need to clearly understand the true intentions of hostile forces and to adopt the correct stance in response.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.


Suggestion