EUR/USD 1.13257
-0.534%
Gold 3294.67
-0.680%
Oil 57.929
-3.307%
USD/JPY 142.987
0.469%
GBP/USD 1.33267
-0.598%
GBP/JPY 190.565
-0.086%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Microsoft (MSFT.O) rose 6% after the market closed after the company released its earnings.Microsoft (MSFT.O)s cloud business revenue in Q3 of fiscal year 2025 was US$42.4 billion.Microsoft (MSFT.O) had revenue of $70.1 billion in the third quarter of fiscal year 2025, compared with market expectations of $68.44 billion and $61.858 billion in the same period last year.Market news: Kellogg, the US governments special envoy for Russia-Ukraine issues, said that the United States is ready to "partially" agree to Russias territorial demands.On May 1, according to the Wall Street Journal, people familiar with the matter revealed that Republicans in the U.S. House of Representatives are seriously considering proposals to further limit tax breaks for corporate top pay, expanding the current restrictions that only apply to a small number of current or former executives with incomes over $1 million. These changes may be included in the trillion-dollar tax and spending bill that Republicans are drafting and trying to push through the House of Representatives this month. Discussions on this idea and other tax provisions are still ongoing, and lawmakers have not yet determined the details of which employees and employers will be affected. Limiting these tax breaks will increase taxes on companies and may indirectly hit high-income families, but perhaps this approach is more politically acceptable than raising the top marginal income tax rate for millionaires, which Trump recently considered and rejected. The resulting revenue can offset some of the tax cuts in the bill, including the extension of expiring provisions in the 2017 tax law, and Trumps plan to cancel the tip tax, overtime pay and social security benefits.

XAGUSD maintains stability above the middle of $21.00, around the 200 DMA pivot point

Alina Haynes

Nov 14, 2022 18:45

184.png 

 

Silver has modest buying interest near $21.30 on Monday and reaches a new daily high during the first half of the European trading session. The white metal is currently trading in the $21.65-$21.70 range, but remains below Friday's five-month high.

 

In a broader context, the XAGUSD has struggled to capitalize on its upward rise beyond the extremely significant 200-day simple moving average (SMA). Before positioning for any additional near-term appreciation, it would be advisable to await some follow-through buying.

 

From current levels, the multi-month high near $22.05 could represent an immediate obstacle. The next significant resistance is located in the $22.45-$22.50 supply zone, which, if broken, will provide as a new bullish trigger and pave the way for further rises.

 

The XAGUSD might then accelerate its momentum towards $23.00 and eventually ascend to the May swing high in the vicinity of $23.25-23.30. Given that the RSI on the daily chart is on the edge of entering the overbought zone, the latter should prove difficult for bulls to overcome.

 

In contrast, the zone around the daily low of $21.35 presently appears to safeguard the immediate downside. Any more decline might be viewed as a buying opportunity and should be contained near $21.00, which could now serve as a pivot point for short-term traders.

 

A decisive breach below might spark technical selling and bring the XAGUSD below the $20.40 support zone. Failure to defend the aforementioned support levels could nullify the near-term bullish picture and change the market's tilt towards negative traders.


Suggestion