EUR/USD 1.04753
-0.080%
Gold 2891.76
-0.836%
Oil 69.136
0.642%
USD/JPY 149.854
0.519%
GBP/USD 1.26718
-0.041%
GBP/JPY 189.895
0.501%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
ECB: T2S operator has closed communication channels with network service providers and has taken all necessary measures to resolve the incident.ECB: The T2S settlement system is currently facing events affecting inbound and outbound communications.On February 27, according to the Wall Street Journal, Microsoft is pushing the Trump administration to relax and simplify the system that restricts the sale of cutting-edge American artificial intelligence chips to much of the world. Microsoft officials said that Microsoft will call on the Trump team in a blog post published on Thursday to relax restrictions on chips used by data centers to train artificial intelligence models so that they no longer apply to US allies including India, Switzerland and Israel. These countries belong to the second level of the three-level export control system. The previous administration proposed chip control rules in the last few days of Bidens term. The Trump team is currently reviewing the rules and considering feedback from industry groups before deciding how to move forward. According to people familiar with the matter, government officials are weighing measures to strengthen restrictions while simplifying export control rules. Another company that expressed its opinion was Nvidia, which called the proposed rules a "comprehensive overreach."Market News: India considers tax cuts on automobiles and chemicals as US President Trumps tariff policy approaches.On February 21, JPMorgan Chases holdings in Bilibili (09626.HK) fell from 6.56% to 5.95%.

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