EUR/USD 1.02749
-0.225%
Gold 2700.86
-0.497%
Oil 77.288
-0.681%
USD/JPY 156.146
0.645%
GBP/USD 1.21698
-0.580%
GBP/JPY 190.028
0.104%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 18, according to the U.S. Capitol Hill newspaper, before Mondays inauguration, U.S. President-elect Trump "won a battle" because the Capitol will raise the American flag to its highest level instead of lowering it to half-mast on the day of the inauguration. Trump had previously been angry about the idea of lowering the flag to half-mast in memory of former President Carter. Carter died on December 29, and Biden announced that he would lower the flag to half-mast for 30 days. It was U.S. House Speaker Johnson who came to the rescue and dispelled concerns that Trumps second term would start with a "half-mast mourning" scene. Earlier this week, Johnson wrote on social media that next Monday, "the flags at the Capitol will fly at full flag to celebrate our countrys unity after the inauguration of the 47th President Donald Trump." Johnson pointed out that the flag would be lowered to half-mast again the day after the inauguration to commemorate Carter.According to the Ukrainian Pravda: The battlefield analysis agency DeepState said that the Russian army has made progress in several settlements in Kharkiv and Donetsk.According to the Ukrainian National News Agency: Poland plans to send a defense industry delegation to visit Ukraine.According to the Jerusalem Post: A Hamas official claimed that mediators involved in the hostage and ceasefire negotiations included a clause allowing Israel to resume military operations in Gaza if Hamas violates the agreement.Russian Ministry of Defense: Russian air defense system shot down 46 drones in Russia at night.

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