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According to a report by Irans Fars News Agency, citing its journalists, Iran and the United States failed to reach a consensus on their differences in the latest round of negotiations.According to a report by a correspondent for Iranian state television in Islamabad, talks between Iran and the United States will continue on Sunday.April 12th - Significant differences remain between the US and Iran, primarily regarding the Strait of Hormuz and the unfreezing of funds. Meanwhile, Israel remains a potential disruptor. Iranian media and analysts point out that the current situation can be described as a transitional phase between war and peace, with the regional situation remaining fragile. A comprehensive agreement between Iran and the US in the short term is unrealistic, but reaching a preliminary framework or a lasting cessation of hostilities is not impossible—however, it is crucial to consider whether Israel will seriously undermine this process at a critical moment.On April 12, local time, the third round of talks between Iran and the United States in Islamabad concluded. Iran described this round as the "last chance" to reach a framework agreement. Since April 11, the two sides had a busy schedule, consulting late into the night, with all parties vying for the temporary ceasefire window and intensifying their maneuvering. However, sharp differences remained on three core issues: control of the Strait of Hormuz, unfreezing overseas assets, and uranium enrichment. Outside the negotiating table, the US military announced mine-clearing operations in the Strait of Hormuz, while the Israeli Prime Minister declared that he would continue to strike Iran and its proxies. With the ceasefire window closing, diplomatic maneuvering and military actions are escalating simultaneously, and the situation in the Middle East is at a crossroads between war and peace.April 12 - According to a statement released by the Iranian government early this morning (April 12) via social media, negotiations with the United States will continue despite some remaining differences. Iranian state television reported that the third round of talks between Iran and the United States concluded earlier, with expert teams from both sides attending and exchanging texts again.

Bears in the XAG/USD pair are testing $23.50 in Silver Price Analysis

Daniel Rogers

Dec 29, 2022 11:45

截屏2022-09-23 下午2.30.27.png

 

As early Thursday morning approaches, the silver price (XAG/USD) remains low at $23.55 as bears probe the monthly support line. Notable is the fact that the shiny metal dropped the most in two weeks the day before.

 

Given the metal's prolonged fall below the prior support line from December 16 and the bearish MACD signals, the XAG/USD price is likely to breach the immediate support line near $23.50.

 

However, a two-week-old horizontal range including the 100-SMA, between $23.35 and $23.45, appears difficult for silver bears to penetrate.

 

If the commodities price breaks the $23.35 support, it is not impossible to see a decline to $23.00.

 

After that, the market will focus on the mid-month swing low of $22.55 and the monthly bottom around $22.00.

 

In the meantime, recovery moves may initially target the two-year-old support-turned-resistance line close to the $24.00 round number before aiming for the double peaks surrounding $24.30.

 

However, it should be highlighted that the XAG/USD rise above $24.30 will not hesitate to approach the $25.00 round number. However, April's peak around $26.25 could pose a threat to Silver buyers in the future.

 

Overall, the Silver price is likely to stay bearish, but further declines are contingent on a breach below $23.35.

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