EUR/USD 1.15412
0.026%
Gold 4676.00
-1.726%
Oil 103.832
10.230%
USD/JPY 159.475
-0.075%
GBP/USD 1.32319
0.045%
GBP/JPY 211.001
0.004%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 3, Iranian Ambassador to Egypt Mojtaba Ferdowsi Poul stated that if the United States decides to send troops to land on Iranian islands, it could lead to the Houthi rebels blocking the Bab el-Mandeb Strait. Ferdowsi Poul said, "We hope our enemies will not make another strategic mistake against Iran. If they want to land on or occupy Iranian islands, another strait will become like the Strait of Hormuz, which will trigger financial markets and the global economy. This is not the situation we want. We will not beg the Houthis, but they have this plan." Houthi political bureau member Mohammed al-Buhaiti previously stated that the movement might block the Bab el-Mandeb Strait connecting the Red Sea and the Gulf of Aden, but only against the invading nation.Futures News, April 3rd - According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 2.7%, mainly due to a surge in international crude oil futures. US President Trumps statement that the US would continue attacks on Iran sparked market concerns about a potential long-term disruption to crude oil supplies, causing Brent crude futures to jump 7.8%, which boosted sentiment in the Chicago soybean oil market. The May contract closed near its intraday high, slightly below this weeks high of $69.68. The US Department of Agricultures weekly export sales report showed that for the week ending March 26, 2026, net sales of US soybean oil for the 2025/26 marketing year totaled 1,100 tons, a 53% increase from the previous week, but a 58% decrease from the four-week average.Federal Reserves Goolsby: The oil price shock adds another layer of uncertainty.Federal Reserves Goolsby: Uncertainty is leading to an environment of low hiring and low layoffs.Federal Reserves Goolsby: When gasoline prices rise sharply, some complications can arise that could push up inflation expectations. That would make things even more difficult for us.

Silver Price Analysis: XAG/USD Breaks Below the 200-Day Moving Average and Extends Its Drop Below $21.90

Daniel Rogers

Feb 15, 2023 14:33

 截屏2022-06-15 下午4.06.22_1024x576.png

 

Silver price remains below the bottom-trendline of a megaphone formation and below the 200-day Exponential Moving Average (EMA) at 21.95, a bearish indication for the white metal. A daily close below the latter would open the path for more losses, it should be noted. XAG/USD trades at $21.84 per troy ounce at the time of writing, following reaching a daily high of $23.

 

After falling below the bottom trendline of a megaphone formation, the XAG/USD has been unable to rebound $22.50, exposing the 200-day exponential moving average. A daily close is required to further solidify a change in the neutral bias to neutral-downwards, and it will reveal support zones that have not been tested since December of 2022.

 

If this scenario materializes, the first support for XAG/USD would be the daily low of $20.87 from November 28, followed by the swing low of $20.59 from November 21. Once the psychological level of $20.00 was cleared, it would be up for grabs.

 

In an alternative scenario, the XAG/initial USD's point of resistance would be the 200-day exponential moving average (EMA) at $21.94, preceding the $22.00 level. Once broken, Silver might target inside the megaphone formation, but first it must break the $22.20 support trendline.

 

It should be noted that oscillators such as the Relative Strength Index (RSI) indicate a negative continuation, whereas the Rate of Change (RoC) indicates that sellers are losing momentum. Consequently, the XAG/USD may settle in the region between $21.60 and $22.00, expecting a new catalyst before establishing its direction.


Suggestion