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February 21 - It was learned on the 21st that the US military has begun withdrawing from the Kasruk military base in Hasakah province in northeastern Syria. Several US officials previously stated that the US military had recently completed its withdrawal from the Tanf military base near the Jordanian and Iraqi borders and the Shadadi military base in northeastern Syria, and will withdraw from its remaining bases in Syria within the next two months.Iranian diplomatic sources have confirmed that nuclear materials will not be transferred out of Iran.The Ukrainian military stated: "Our troops attacked a Russian gas processing plant in the Samara region and caused a fire."The Ukrainian military says that a Ukrainian Flamingo missile struck a Russian ballistic missile manufacturer in the Udmurt region.On February 21st, St. Louis Federal Reserve President Konstantin Mussalaim, a 2028 FOMC voting member, stated in an interview with Fox Business on Friday that his view on the economic outlook would not change significantly if the Trump administration maintained most tariffs through other means. He also indicated that he wanted to know whether businesses would receive tariff refunds and, if so, how much. When asked about the possibility of an interest rate cut this year, Mussalaim stated that the Feds benchmark interest rate is currently at or below the so-called "neutral rate" level—a level that neither stimulates nor inhibits economic growth. This level is well-suited to handle any direction the Feds mission may take.

Silver Gaps Higher to Start the Trading Week

Daniel Rogers

Jul 19, 2022 11:57

 截屏2022-07-19 上午11.48.32.png

 

As the $19 level is under threat, silver prices have gapped upward to start the trading week on Monday. Nevertheless, given the strong resistance in the region, I wouldn't be at all surprised if sellers jumped into the market and underpriced it. The $20 level may be the next objective, even if we break above the $19 level. Since silver is more of an industrial metal than a precious metal, the market will likely continue to view it with distrust.

 

The current state of the world economy is fraught with uncertainty, which is not the best atmosphere for rising silver prices. As a result, I believe we will keep looking for rallies you may join and then start fading. I think that sector is also another spot where you might see sellers reappear because the 50 Day EMA is now around the $21 level and declining fairly swiftly.

 

Breaking down below the $18 mark below would allow for new selling that might take us much lower. In the end, I believe that this market will continue to exhibit "fade the rally" characteristics, barring a significant shift in the Federal Reserve's attitude on monetary policy. I just don't see it occurring anytime soon, therefore from what I can see, the silver market is still in dire straits. In reality, the majority of commodities appear to be seriously in danger.


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