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On January 11, Mitsubishi Motors President Takao Kato was interviewed on January 10. Regarding whether to join the management merger consultation between Honda and Nissan, he said "this is one of the options." Speaking of the envisioned benefits, Kato Takao said "We can actively get help in the North American business (where Mitsubishi Motors has no production base)." Kato Takao also pointed out that in terms of in-vehicle software development, "there will also be scenarios where the technical strength of the two companies will be utilized, which will be very beneficial." Honda and Nissan announced the full launch of management merger consultations in December last year. Mitsubishi Motors previously stated that it will decide whether to join the consultations around the end of January.On January 11, CICC commented on the US non-farm data. The team believes that the highlight of this time is the recovery of the service industry. The service industry has added 231,000 jobs, which has become the main driving force. Judging from the market reaction, the unexpected non-farm data has pushed the US Treasury bond interest rate and the US dollar to a new high, which is also in line with its judgment since the fourth quarter of last year: it believes that the US dollar is still strong and that interest rate cuts should be "done in reverse". When the interest rate cut is realized, it will be the low point of the US Treasury bond interest rate, rather than continuing to look at the recession and the starting point of the downward interest rate.German Geoscience Research Center GFZ: A 5.5-magnitude earthquake occurred in Ethiopia.On January 11, according to AFP, US President Biden condemned Metas plan to terminate its third-party fact-checking on the 10th, calling the decision "shameful." Biden told reporters at the White House, "This goes against everything America is about." It is reported that after Meta terminates its third-party fact-checking plan, it will switch to a user-written community annotation model. The plan will be implemented first in the United States, replacing the fact-checking service previously conducted by independent third parties.The Dow Jones Industrial Average closed at 41,938.45 on January 10 (Friday), down 696.75 points, or 1.63%. The S&P 500 closed at 5,827.04 on January 10 (Friday), down 91.21 points, or 1.54%. The Nasdaq Composite closed at 19,161.63 on January 10 (Friday), down 317.25 points, or 1.63%.

Silver Price Analysis: Obstacles at the 200-SMA XAG/USD is bearish near $19.00

Alina Haynes

Oct 12, 2022 11:50

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Following a three-day downturn, the silver price (XAG/USD) stops the bearish momentum near a weekly low, as the 200-SMA and nearly oversold RSI (14) test bears. Nevertheless, the quotation fails to preserve the $19.00 mark throughout the Asian session on Wednesday.

 

In doing so, the precious metal draws cues from the negative MACD signals and illustrates the inability to overcome a weekly downward trend line.

 

In addition to the 200-day simple moving average level near $19.00, the 61.8% Fibonacci retracement level of the September-October uptrend near $18.95 also poses a challenge to the XAG/USD bearish.

 

If commodities prices go below $18.95, a decrease toward a support level established six weeks ago near $18.20 cannot be counted out.

 

Alternately, the rebound must surpass the weekly resistance line close to $19.50 in order to convince the short-term purchasers of silver.

 

Nonetheless, a one-month-old horizontal resistance level near $20.00 could provide a threat to the XAG/ascent. USD's

 

Overall, the silver price could have a corrective recovery, but the bearish trend will likely persist.