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On April 2nd, Iranian Parliament Speaker Mohammad Ghalibaf stated that seven million Iranians are ready to resist any US ground invasion of Iran. Ghalibaf, who has been considered a potential negotiator with the US, has posted a series of online challenges to the US since the start of the conflict. “Currently, in less than a week, a powerful nationwide movement has brought about approximately seven million Iranians to their feet, declaring their readiness to take up arms and defend our country,” Ghalibaf wrote. Iran is a country with a population of approximately 90 million. The source of this figure is unclear, but Iranian state media and SMS propaganda campaigns have been urging citizens to enlist.April 2nd - According to Japanese media reports on the 2nd, due to the protracted conflict in the Middle East and rising oil prices, All Nippon Airways (ANA) and Japan Airlines (JAL) will significantly increase fuel surcharges on international routes starting in June. The Japanese aviation industry typically adjusts fuel surcharges every two months. For example, for one-way flights from Japan to Europe and North America, compared to prices in April and May, ANA will increase its fuel surcharge by 23,100 yen (approximately 159 yen to 1 US dollar) to 55,000 yen starting in June, while JAL will increase its fuel surcharge by 21,000 yen to 50,000 yen, both increases exceeding 70%.The intraday gains for the main fuel oil contract narrowed to 8.00%, currently trading at 4550.00 yuan/ton.The International Monetary Fund welcomed the strong performance of the US economy.The International Monetary Fund (IMF) projects that the U.S. economy will grow to 2.4% in 2026; and that core personal consumption expenditure inflation is expected to fall to 2% in the first half of 2027 as the effects of tariffs fade and oil prices decline.

Silver Price Analysis: XAG/USD drops below the 100/200-day simple moving average and goes bearish, aiming $21.00

Daniel Rogers

Feb 10, 2023 11:36

 截屏2022-06-07 下午5.17.07.png

 

Silver price is testing the 200-day Exponential Moving Average (EMA) at approximately $21.95. This structure's bottom-trend line is a bearish megaphone formation. At the time of this writing, the XAG/USD rate is $21.97.

 

Daily chart analysis indicates that XAG/USD is close to breaching the 200-day exponential moving average (EMA), which might pave the stage for additional losses. In addition, oscillators have been pessimistic, specifically the Relative Strength Index (RSI), while the Rate of Change (RoC) is nearly flat, indicating that neither buyers nor sellers are in control.

 

But if XAG/USD closes below the 200-day exponential moving average, silver prices could plummet. The $21.00 psychological price level is the next area of support, followed by the November 28 daily low of $20.87 and the November 21 low of $20.59.

 

In an alternative scenario, the first point of resistance for the XAG/USD would be the psychological $22.00 level. A violation of the latter would expose the support-turned-resistance trendline at $22.40, followed by the weekly high at $22.59.


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