EUR/USD 1.13809
0.002%
Gold 4096.78
-0.326%
Oil 72.727
-0.228%
USD/JPY 161.545
-0.012%
GBP/USD 1.31995
-0.027%
GBP/JPY 213.234
-0.034%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
DownDetector, a network monitoring website, reports that over 18,000 users have reported issues with Instagram and over 20,000 users have reported issues with Facebook in the United States.DownDetector, a website monitoring internet conditions, reports user complaints that Instagram and Facebook are experiencing issues in the UK.① Iran 1. Iranian state media: Irans western airspace is now open. 2. Iranian Deputy Foreign Minister discloses the technical consultation mechanism for the follow-up negotiations between Iran and the US. 3. Iranian Foreign Ministry Spokesperson Baghae: Irans missile program was never part of the negotiations. ② United States 1. White House Spokesperson: Iran will never possess nuclear weapons. 2. Both houses of the US Congress pass a war powers resolution, symbolically condemning Trump. 3. US Central Command: Two aircraft carriers remain on mission in the Middle East. 4. Trump says he will take necessary action if Iran does not comply with the agreement. 5. Trump: Iran has fully agreed to accept long-term nuclear inspections, which is a prerequisite for further negotiations. ③ Israel 1. Israeli National Security Minister threatens to turn Beirut into Gaza. 2. Israeli assets plummet, and years of war gains vanish with the expectation of peace talks. ④ Ceasefire Negotiations 1. Iranian President: The Iran-US memorandum of understanding does not involve missile issues. 2. Pakistani Prime Minister: The memorandum of understanding does not mention Irans ballistic missile capabilities. 3. Trump says IAEA inspectors will visit Iran in due course. An Iranian Foreign Ministry spokesperson stated earlier that there were no plans for inspectors to visit. ⑤ Strait of Hormuz 1. Iran and Oman established the Strait of Hormuz Commission. 2. Trump: 19 million barrels of oil were transported through the Strait of Hormuz on June 22. 3. Oman and Iran issued a joint statement: emphasizing territorial sovereignty and agreeing to jointly develop a navigation management agreement. 4. Iranian Ambassador to Geneva: The Strait of Hormuz is fully open to merchant ships, and a large amount of oil has been transported through the waterway recently. 5. Oman reiterated its commitment to ensuring free and safe passage through the Strait of Hormuz; stated it has coordinated with the International Maritime Organization to open a temporary channel in the Strait of Hormuz. 6. Iranian military sources stated that only a limited number of ships are allowed to pass through the Strait of Hormuz each day, with the specific number adjusted based on the daily situation. ⑥ Other Situations 1. Jordanian Foreign Minister: All illegal actions by Israel should be stopped immediately. 2. Hezbollah: Israels attacks in southern Lebanon violate the ceasefire agreement. 3. Lebanese President: No compromise will be accepted unless the "Israeli occupation of southern Lebanon" ends. Meta Platforms (META.O): (Regarding the US governments review of artificial intelligence) We hope to sign an agreement as soon as possible while we work out the details.Meta Platforms (META.O): Supports the governments goal of advancing U.S. leadership in a strong and secure frontier AI field.

Silver Price Analysis: The XAG/USD pair appears susceptible as it consolidates in a range below $22.00

Alina Haynes

Feb 22, 2023 15:11

123.png 

 

Silver struggles to get traction on Wednesday and trades in a limited range during the early European session. The precious metal stays below the $22.00 round-number level, and the technical setup continues to favor bearish traders.

 

The aforementioned handle corresponds with the 100-day Simple Moving Average (SMA) and limits the recovery from the YTD low, which was reached last Friday in the $21.20-$21.15 range. In addition, oscillators on the daily chart are firmly entrenched in bearish area, lending credence to the dismal forecast for the immediate future. This shows that the path of least resistance for the XAG/USD pair is down.

 

However, sustained purchasing above the 38.2% Fibonacci retracement level of the recent rise from October 2022, around the $22.15 area, could negate the negative bias and spark a short-covering rally. The XAG/USD could then accelerate into the $22.55-$22.60 supply zone en way to the $23.00 mark or the 61.8% Fibo. level, which could cap any further bullish advance.

 

In contrast, the 50% Fibo. level, located in the vicinity of $21.35, appears to operate as immediate support ahead of Friday's swing low, which is around the $21.20-$21.15 range. A decisive breach below $21.00 might send the XAG/USD to the $20.60 area. The downward trend might extend toward the $20.00 psychological level and the next significant support near the $19.75-$19.70 zone.



Suggestion