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On February 27, according to the Wall Street Journal, Microsoft is pushing the Trump administration to relax and simplify the system that restricts the sale of cutting-edge American artificial intelligence chips to much of the world. Microsoft officials said that Microsoft will call on the Trump team in a blog post published on Thursday to relax restrictions on chips used by data centers to train artificial intelligence models so that they no longer apply to US allies including India, Switzerland and Israel. These countries belong to the second level of the three-level export control system. The previous administration proposed chip control rules in the last few days of Bidens term. The Trump team is currently reviewing the rules and considering feedback from industry groups before deciding how to move forward. According to people familiar with the matter, government officials are weighing measures to strengthen restrictions while simplifying export control rules. Another company that expressed its opinion was Nvidia, which called the proposed rules a "comprehensive overreach."Market News: India considers tax cuts on automobiles and chemicals as US President Trumps tariff policy approaches.On February 21, JPMorgan Chases holdings in Bilibili (09626.HK) fell from 6.56% to 5.95%.According to the Wall Street Journal: Microsoft will call on the Trump team to relax restrictions on chips that can be used to train artificial intelligence models in data centers.According to the Wall Street Journal: Microsoft urged US President Trump to overhaul export restrictions on artificial intelligence chips.

Silver Price Analysis: Near 50 DMA, XAG/USD rises to mid-$23.00s

Alina Haynes

Feb 03, 2023 15:21

Silver attracted buyers around its 50-day simple moving average (SMA) on Friday, halting its previous day's regression from its highest level since April 2022. In the early European session, the precious metal maintains a moderately bullish tone, although the intraday increase lacks bullish confidence.

 

The XAG/USD has formed a rectangle pattern on the daily chart during the previous half-month, bouncing in a typical range. This indicates traders' hesitation and calls for care before putting aggressive direction bets. The inability to gain acceptance above the $24.50 supply zone overnight validates the trading range resistance, which should now serve as a pivot point.

 

Given that technical indications on the daily chart have only recently begun to drift into negative territory, it would be smart to await a sustained advance beyond the aforementioned barrier before putting bullish wagers. The XAG/USD pair might then attempt to recapture the $25.00 psychological level for the first time since April 2022. On the way to $26.00, the momentum could be extended towards the next significant obstacle near the $25.35 region.

 

Conversely, any further decline below the horizontal zone between $23.40 and $23.30 may continue to find support around the $23.00 to $22.95 region. This is followed by support in the $22.75 range, which, if forcefully broken, could pull the XAG/USD to the next key support near the $22.20-$22.15 zone before the $22.00 level.


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