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Supermicro (SMCI.O) shares fell more than 20% in pre-market trading.March 20 – With oil supplies constrained for the third consecutive week, buyers are forced to seek quick alternative sources, and offshore oil reserves, a crucial buffer, are rapidly dwindling. These reserves could decrease even faster if the US proceeds with Treasury Secretary Bessenters proposal to lift sanctions on Iranian oil shipments. Since the start of the war, crude oil and condensate in floating storage have been declining at a rate of 1.8 million barrels per day, one of the fastest declines in years. According to data intelligence firm Vortexa, these reserves currently stand at approximately 78 million barrels, about one-third of which originate from Iran. Goldman Sachs estimates that approximately 131 million barrels of Russian oil and 105 million barrels of Iranian oil are at sea, which will ultimately only offset the impact of a two-week supply disruption in the Strait of Hormuz. Vortexa analyst Emma Li stated that the Islamic Revolutionary Guard Corps could potentially profit significantly if all cargoes were sold as normal barrels. However, mainstream importers will still face constraints in terms of compliance, financing, and logistics, especially if exemptions are deemed temporary or uncertain.ECB Governing Council member Villeroy: France has very little room for maneuver in terms of budget.ECB Governing Council member Villeroy: Interest rate hikes will be decided at each meeting, depending on the specific circumstances.March 20 - Iranian Islamic Revolutionary Guard Corps spokesman Naini was killed in an attack on March 20 local time.

Silver Market Attempts Stabilization

Alina Haynes

Apr 27, 2022 10:09

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Technical Analysis of the Silver Markets

Silver markets fluctuated throughout Tuesday's trading session, as we continue to observe a high level of volatility in general. While it is evident that we have changed to a fairly pessimistic mentality, the candlestick on Tuesday shows that we may stabilize, if not bounce. That bounce, of course, is an indication that we may resume selling, until we breach the $25 barrier to the upside. The US dollar has been and will continue to be a wrecking ball for silver.

 

If we break below Monday's lows, the market might swiftly reach the $23 level, possibly even the $22 level. Because the $22 level beneath has been a significant support for a long period of time, I would be looking for buyers to enter this market. If we were to break it below that support zone, the ramifications for silver would be severe to say the least.

 

The 200 Day EMA is located at $24.30, and coupled with the 50 Day EMA, which is located at $24.74, this could act as a bit of a hurdle to the upside. Finally, I'll be searching for signs of tiredness that I may profit from, which I believe will occur very fast during any form of rise. Not only is silver concerned about the US dollar, but it is also concerned about a possible lack of demand if the economy does begin to stall.

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