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Russian e-commerce platform Ozon: A Ukrainian drone attacked Ozons logistics center in Saratov Oblast, Russia, causing a fire.On September 11th, nine departments, including the Ministry of Industry and Information Technology, issued the "15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry." The plan proposes to leverage the inter-ministerial coordination mechanism for the development of the energy-saving and new energy vehicle industry, comprehensively promote the implementation of the plan, formulate key tasks and annual work priorities, and strengthen supervision, guidance, dynamic monitoring of implementation, mid-term evaluation, and summary evaluation. All regions and relevant departments are required to implement the plan effectively based on their specific circumstances, ensuring the policies are implemented efficiently. The plan emphasizes the implementation of tax incentives for new energy vehicles, deepening pilot reforms in automobile circulation and consumption, accelerating the removal of restrictive measures on automobile circulation and consumption, and innovating automobile purchase and use management models. It supports activities such as "trade-in" programs for old vehicles, the promotion of new energy vehicles in rural areas, and the upgrading of urban buses and power batteries. The plan also calls for deepening the reform of new energy vehicle insurance and optimizing the benchmark rates for commercial vehicle insurance. Finally, it emphasizes strengthening the management of cross-regional circulation of used cars and supporting the development of used car dealership models.On September 11th, nine departments, including the Ministry of Industry and Information Technology, issued the "15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry." The plan proposes strengthening the construction of basic artificial intelligence capabilities. It promotes technological innovation in artificial intelligence models and intelligent agents, and prioritizes their application in the automotive industry. It accelerates the construction of pilot bases for automotive artificial intelligence applications, encouraging industry enterprises to build intelligent computing facilities through a combination of public and private resources. It encourages enterprises to open up more application scenarios and promote the construction of a new ecosystem for the comprehensive application of artificial intelligence technology.On September 11, nine departments, including the Ministry of Industry and Information Technology, issued the "15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry." The plan proposes to improve the resilience and security of the industrial chain. It calls for the rolling implementation of high-quality development actions for the industrial chain, overcoming shortcomings in key basic materials, operating systems, industrial software, automotive chips, and components, making good use of policies such as first-batch materials and first-version software, and continuously expanding the scale of application. It also calls for the coordinated development of the mining and recycling of key mineral resources such as lithium, cobalt, and nickel.On September 11th, nine departments, including the Ministry of Industry and Information Technology, issued the "15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry." The plan proposes further enhanced economic and social benefits. The automotive industrys pillar status in the national economy will be further highlighted, carbon peaking will be achieved before 2030, and the supply chain will be driven to accelerate its green and low-carbon transformation. The safety performance of vehicles equipped with autonomous driving systems will significantly exceed that of human drivers.

Analysis of the Silver Price: 50-SMA Bearish Probing Near $23.00

Daniel Rogers

Dec 16, 2022 11:52

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The silver price (XAG/USD) oscillates around $23.00 on Friday morning as sellers flirt with the 50-day simple moving average (SMA) after confirming the rising wedge bearish chart pattern the day before. Despite this, the price of the precious metal declines somewhat after falling the most since December 5th.

 

Nevertheless, bearish MACD signals bolster the downside bias, particularly following the rising wedge confirmation.

 

Consequently, despite recent inactivity, the precious metal is under pressure towards the 100-SMA support of $22.50.

 

After that, the monthly low of $22.00 and the late November bottom around $20.60 should provide support for the XAG/USD bears as they approach their theoretical target of $20.00.

 

In the meanwhile, recovery moves remain difficult unless the price remains below the three-week-old wedge's lower line, which was $23.40 as of press time.

 

Nonetheless, the weekly resistance line near the $24.00 mark and the top line of the aforementioned wedge, which was near $24.40 at the time of publication, could pose a challenge to the Silver purchasers.

 

In the event that the XAG/USD maintains higher than $24.40, the January high at $27.00 and the $25.00 level could attract buyers.