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On January 5th, President Xi Jinping met with Irish Prime Minister Martin at the Great Hall of the People in Beijing. Xi Jinping pointed out that the world today is fraught with turmoil, and unilateral bullying is severely impacting the international order. All countries should respect the development paths chosen independently by other peoples, abide by international law and the purposes and principles of the UN Charter, with major powers taking the lead. China and Ireland both support multilateralism and advocate international fairness and justice. They should strengthen coordination and cooperation in international affairs, jointly safeguard the authority of the United Nations, and promote the development of the global governance system in a more just and equitable direction. China and the EU should take a long-term perspective, adhere to the partnership framework, view and handle differences objectively and rationally, and uphold win-win cooperation. Ireland will assume the rotating presidency of the EU in the second half of the year, and it is hoped that Ireland will play a constructive role in the healthy and stable development of China-EU relations.January 5th - According to foreign media analysis, the case of Panamanian leader Manuel Noriega, arrested by the US government more than 30 years ago, may serve as a significant reference for Maduros case. Noriega was accused of involvement in drug smuggling into the US and was also arrested during a military operation within his own country. His lawyers argued that the US invasion and cross-border arrest violated international law and due process, and that Noriega, as a head of state, enjoyed immunity. However, the court did not accept this argument, ruling that the manner in which he was brought to the US did not affect criminal jurisdiction. Legal experts point out that if Maduro claims he was illegally brought to the US, existing precedents support continuing the prosecution. The real difficulty lies in whether he enjoys immunity as a head of state or for official acts. The difference is that the US did not recognize Noriegas head of state status at the time, while the Department of Justice, in its indictment unsealed on Saturday, referred to Maduro as the "de facto but illegitimate ruler" of Venezuela. Steve Vladek, a professor at Georgetown Universitys Law Center, stated, "This lawsuit is by no means a sure thing," especially regarding the accusations against Maduro himself.January 5th - On January 4th, Baiyun District of Guangzhou successfully auctioned off the citys first residential land parcel of the year. The AB1208028 plot in the Future Industry Innovation Core Area of Taihe Town, Baiyun District, was won by Guangzhou Haiyao Investment Development Co., Ltd. The plot is located in the core area of the Guangzhou Private Science and Technology Park, a national-level high-tech zone, approximately 500 meters from Exit C of Taihe Metro Station on Line 14. This area, positioned to develop manufacturing headquarters and professional supporting services, will be developed into a future industry technology CBD.On January 5th, according to Tianyanchas risk information platform, Fang Yunzhou, Zhang Yong, and Yichun Langling Enterprise Management Consulting Center (Limited Partnership) were recently added to the list of judgment debtors, with an enforcement target of over 1.05 million yuan. The executing court is the Shanghai First Intermediate Peoples Court. Yichun Langling Enterprise Management Consulting Center (Limited Partnership) was established in October 2021, with Fang Yunzhou as the general partner and a capital contribution of 5.48 million yuan. Its business scope includes social and economic consulting services and information consulting services. Partner information shows that the consulting center is jointly funded by Fang Yunzhou, Zhang Yong, and more than 40 other partners.January 5th - As of midday closing, the Hang Seng Index fell 0.08%, and the Hang Seng Tech Index fell 0.18%. On the sector front, oil stocks, auto stocks, commercial aerospace stocks, and gaming software stocks led the declines, while short video concept stocks, pharmaceutical outsourcing concept stocks, brain-computer interface concept stocks, and mainland property stocks led the gains. NIO (09866.HK) fell over 5%, Great Wall Motor (02333.HK), XPeng Motors (09868.HK), and PetroChina (00857.HK) fell over 4%, CNOOC (00883.HK) fell over 3%, and Sinopec (00386.HK) fell over 1%. Nanjing Panda Electronics (00553.HK) surged nearly 45%, Joinn Laboratories (06127.HK) rose over 11%, and Kuaishou (01024.HK) and Shimao Group (00813.HK) rose over 9%.

Analysis of the Silver Price: XAG/USD retreats from the 10-DMA above $19.00

Alina Haynes

Sep 16, 2022 14:47

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Silver price (XAG/USD) oscillates between $19.15 and $20 early on Friday morning in Europe, fading the early Asian session rebound off the 10-day simple moving average.

 

The recent inactivity of the precious metal could be attributed to its inability to surpass the 50-day moving average, which was around $19.25 as of press time. Nonetheless, the bullish MACD indications and firmer RSI (14) provide optimism for the XAG/USD bulls.

 

However, a downward sloping resistance line from June around $19.90 appears to be a formidable obstacle for bulls.

 

The 100-day simple moving average level near $20.35 then functions as the final line of defense for XAG/USD bears before directing the market to the previous monthly peak near $20.90 and finally to the $21.00 threshold.

 

Alternately, pullback moves could initially target the 10-DMA support level of $18.90 before driving sellers to the multiple levels between $18.25 and $18.10.

 

In the event that silver sellers maintain control beyond $18.10, the $18.00 round number and the annual low near $17.55 will be in focus.