EUR/USD 1.18509
-0.194%
Gold 4995.59
-0.734%
Oil 63.565
1.550%
USD/JPY 153.481
0.477%
GBP/USD 1.36305
-0.185%
GBP/JPY 209.207
0.292%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 17th - According to the New York Post, US President Trump stated on Monday that the $5 billion pledged for the reconstruction of the Gaza Strip will be used for projects approved by the Peace Commission, which will meet near the White House later this week. This fundraising, announced ahead of Thursdays summit, is the first phase of a $70 billion reconstruction effort estimated by a joint study by the United Nations, the European Union, and the World Bank. When asked about the funds, Trump said in a brief phone interview, "It will be used to make Gaza function successfully." He added that the funds will be used to "stabilize Gaza and ultimately benefit other areas of the world where peace can be achieved," hinting at his ambitious vision for the commission, which he chairs. When asked if the pledged funds would be used to build housing for Gazas nearly 2 million people, Trump said, "We havent decided yet...that will be decided by the commission."Ukrainian President Zelensky: Russia is preparing for a further large-scale attack on the energy sector, which requires a properly configured air defense system and timely support from partners.Ukrainian President Zelensky: Ukraine is simultaneously focusing on military preparations and diplomatic efforts.Greek energy company Chevron (CVX.N) has signed a maritime concession agreement with the Hellenic Republic for hydrocarbon exploration and production.According to Nikkei: Mizuho Bank Securities is facing an insider trading investigation.

Silver Price Analysis: XAG / USD reverses from a six-week-old resistance level toward $22.00

Daniel Rogers

Mar 20, 2023 13:19

 截屏2022-06-06 下午5.54.42.png

 

As the Fed week gets underway, the silver price (XAG / USD) accepts offers to renew intraday lows near $22.40, reversing from the greatest levels since early February.

 

In doing so, the brilliant metal reverses from the horizontal area consisting of multiple peaks marked since February 3 at approximately $22.60.

 

Notably, the overbought conditions of the RSI (14) aid the XAG/USD in trimming recent gains near the multi-day high.

 

However, optimistic Silver purchasers are buoyed by bullish MACD signals and the metal's sustained trading above critical support levels.

 

A one-week-old ascending trend line near $21.90 and the 200-bar Exponential Moving Average (EMA) near $21.65 provide immediate crucial support.

 

The early-month swing high near $21.30 and the $21.00 round figure can act as additional downside filters for XAG/USD bears before targeting the monthly low of $19.90.

 

In the meantime, the Silver price rise above the aforementioned resistance line near $22.60 requires confirmation from the 61.8% Fibonacci retracement level of the metal's February-March decline, which is located close to $22.85.

 

After that, a rise to the Year-To-Date (YTD) high around $24.65 cannot be ruled out.

 

Silver prices are expected to decline overall, but the bears have a long way to go before regaining control.


Suggestion