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Euro Stoxx 50 futures rose 0.13%, German DAX futures rose 0.24%, and UK FTSE 100 futures rose 0.18%.February 16th - According to the Ministry of Transport, data from the Comprehensive Transportation Spring Festival Travel Rush Task Force shows that on February 15th, 2026 (the 14th day of the Spring Festival travel rush, the 28th day of the twelfth lunar month, Sunday), the total cross-regional passenger flow in China reached 286.397 million person-times, a 0.3% increase compared to the previous day and a 10.7% increase compared to the same period in 2025 (Monday). Specifically, railway passenger volume was 13.798 million person-times, a 9.8% decrease compared to the previous day and a 3.2% increase compared to the same period in 2025. Road passenger flow (including non-commercial passenger car trips on expressways and ordinary national and provincial highways, and commercial road passenger traffic) reached 269.31 million person-times, a 0.9% increase compared to the previous day and an 11% increase compared to the same period in 2025. Among them, the volume of commercial passenger traffic by road was 38.45 million, a decrease of 4.2% month-on-month and an increase of 8.2% year-on-year; the volume of non-commercial passenger car trips on expressways and ordinary national and provincial highways was 230.86 million, an increase of 1.8% month-on-month and an increase of 11.5% year-on-year. The volume of passenger traffic by waterway was 919,000, a decrease of 4.8% month-on-month and an increase of 38.5% year-on-year. The volume of passenger traffic by civil aviation was 2.371 million, a decrease of 1.6% month-on-month and an increase of 6.4% year-on-year.February 16th - Iran and the United States are scheduled to hold their second round of indirect talks on February 17th in Geneva, Switzerland. Ahead of the talks, Iran stated that it seeks a nuclear agreement with the United States that would bring economic benefits to both sides. According to Irans Fars News Agency on February 15th, Hamid Gambari, Irans Deputy Foreign Minister in charge of economic affairs, said, "To ensure the sustainability of the agreement, it is crucial that the United States also benefits in areas where it can quickly obtain high economic returns." He indicated that the second round of indirect talks on the 17th will cover shared interests in areas such as oil and gas fields, joint mining operations, mining investment, and even aircraft procurement.The yield on Japans 40-year government bonds rose 7.0 basis points to 3.725%, while the yield on Japans 30-year government bonds rose 5.0 basis points to 3.485%.February 16th - Recently, due to a surge in global demand for GLM-5, concurrent access has exceeded the planned limits, leading to queuing, response delays, and lag, impacting the experience for some users. Although Zhipu (02513.HK) has repeatedly expanded its domestic chip cluster and released limited GLM Coding Plan packages, it has not been able to completely resolve the current supply shortage. Zhipu is now launching a "Computing Power Partner" recruitment program: 1. Chip Manufacturers: Zhipu is willing to open its core technology interfaces to jointly conduct underlying optimizations for GLM-5. 2. Computing Power Partners and Inference Service Providers: Jointly build a higher concurrency, lower latency inference network. 3. Other forms of computing power cooperation.

Rising wedge confirmation lures XAG/USD bears towards $22.00, according to Silver Price Analysis

Daniel Rogers

Mar 22, 2023 14:43

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Silver price (XAG/USD) remains depressed around $22.30, circling intraday lows during a three-day downtrend entering Wednesday's European session.

 

The recent decline of the precious metal may be attributable to the affirmation of a two-week-old rising wedge bearish chart pattern and the bearish MACD signals.

 

Consequently, the price is poised to test the 200-Simple Moving Average (SMA) support level near $21.50 before falling to its theoretical target of $17.10.

 

Notably, the swing high from late February and the current monthly low, respectively $22.00 and $19.90, can serve as additional downside filters during the XAG/USD's continued decline.

 

In contrast, the wedge's lower line functions as immediate resistance for the Silver price near $22.70.

 

The 61.8% Fibonacci retracement of the metal's February-March decline, also known as the "golden Fibonacci ratio," could then challenge Silver purchasers near $22.85.

 

In the event that the XAG/USD remains firmer than $22.85, the top line of the aforementioned bearish chart pattern will join the late January swing low to emphasize $23.00 as a formidable barrier for the Silver bulls to overcome before regaining control.