EUR/USD 1.17797
0.486%
Gold 4723.80
0.784%
Oil 92.012
-2.817%
USD/JPY 156.725
-0.130%
GBP/USD 1.36276
0.570%
GBP/JPY 213.582
0.450%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
May 10 - According to a report by The New York Times citing informed officials, in addition to drone components, Russia is also transporting various goods via the Caspian Sea to Iran that would otherwise have to pass through the Strait of Hormuz. The increase in Caspian trade between the two countries is mainly due to two factors: Ukraines crackdown on shipping in the Black Sea, and the recent US blockade of ships entering and leaving Iranian ports.On May 10th, local time, US President Trump stated on May 9th that he expected to receive a response from Iran regarding the latest US peace proposal "soon," and said that Iran "very much wants" a lasting peace agreement. Trump reportedly made these remarks during a telephone interview that day. He indicated that Iran remains willing to complete peace agreement negotiations. Speaking to the media at a golf course in Virginia on the 9th, Trump said the US "expects to receive a letter from Iran tonight" and would monitor developments. When asked if Iran was deliberately delaying the negotiations, Trump responded, "I dont know, well know soon."On May 10, Irans Press TV reported on May 9 that Iranian Foreign Minister Araqchi stated that ceasing aggression and abandoning "excessive and unreasonable" demands are necessary conditions for advancing the diplomatic process.According to CBS News: US President Trump told a French journalist that he expects to receive a message from Iran "soon".According to Nikkei: NATO and Japan are considering sharing a satellite launch site.

Analysis of the Silver Price: XAG/USD falls toward weekly support under $23.50

Daniel Rogers

Jan 11, 2023 11:57

119.png 

 

The silver price (XAG/USD) remains below $23.60 among Wednesday's weak markets. In doing so, the precious metal falls for a third straight day, despite slight gains.

 

However, the continuous trading below the 200-Hour Moving Average (HMA) gives sellers reason for optimism. Even yet, the positive MACD indications and largely stable RSI (14) suggest that downside potential is constrained.

 

The XAG/USD appears to be supported by an upward-sloping support line from last Thursday, which, as of press time, is located near $23.50.

 

In the event that sellers of Silver are able to overcome the $23.50 support level, the $23.11 monthly low and the $23.00 round number will receive significant attention.

 

Nonetheless, the $22.50 level promises to be a formidable obstacle for XAG/USD bears going forward, since it contains the June 2022 high and the December low.

 

In the meantime, an upside clearance of the 200-HMA, at $23.80 at the latest, is insufficient for the Silver buyer's conviction, as a downward-sloping resistance line from January 03, near $23.90, will test the quote's further gains.

 

Also acting as a barrier to the upside is the $24.00 round number, a breach of which could swiftly lead prices to challenge the current monthly high of $24.55.


Suggestion