EUR/USD 1.09423
-0.992%
Gold 3036.33
-2.501%
Oil 62.471
-5.781%
USD/JPY 146.825
0.520%
GBP/USD 1.28724
-1.731%
GBP/JPY 189.004
-1.200%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
April 5th news, despite another sharp sell-off in the U.S. stock market on Friday, Nike (NKE.N) shares bucked the trend and closed up 3%, making it the only component of the Dow Jones Index that rose. Nike was able to close higher thanks to key progress in tariffs. Trump said Vietnamese leaders expressed interest in reaching a new trade agreement with the United States to reduce tariffs on U.S. goods to zero. In response to trade and geopolitical issues, Nike has moved most of its production to Vietnam, but the Trump administrations new import tax policy may offset the benefits of this transfer. Whether Vietnam can reach a suitable new trade agreement with the United States has quickly become a key business performance and valuation catalyst for Nike.On April 5, California Governor Gavin Newsom posted a video on his social platform on April 4 saying that the Trump administration’s tariff policy "cannot represent all Americans." He has asked the California government to look for new opportunities to expand trade cooperation and said that "California is a stable trading partner."On April 5, Fitz-Gerald Group CIO Keith Fitz-Gerald said in the latest CNBC show that although he was frustrated by the recent sell-off of Tesla, he still believed in the companys long-term prospects. "I think if we look at FSD, we look at autonomous driving, we look at everything Tesla is involved in, if you take Musk himself out of the "equation" for a few minutes, you cant deny that this company continues to change the earth. So, this is one of the moments where I have to hold my nose (ignore the sell-off), and Im going to keep waiting anyway, and I hope that when the sell-off is over, I hold enough Tesla shares."On April 5, a spokesperson for the U.S. Department of Homeland Security said on the 4th that the deportation emails sent recently to a number of Ukrainians legally residing in the United States were "mistakenly sent" and that the Ukrainian humanitarian temporary residence program established after the outbreak of the Russia-Ukraine conflict in 2022 has not been terminated.On April 5, the U.S. Space Force official website announced that Musks SpaceX, United Launch Alliance and Blue Origin won the U.S. Space Forces rocket launch contract totaling $13.5 billion, valid until 2029. It is reported that these three companies will be responsible for sending some of the Pentagons most sensitive and complex satellites into space. Among them, SpaceX will undertake 28 missions and win a $5.9 billion contract. The United Launch Alliance (ULA), a joint venture between Boeing and Lockheed Martin, undertakes 19 missions with a total contract value of $5.3 billion. Blue Origin, founded by Bezos, won 7 missions with a total contract value of $2.3 billion.

Silver Price Analysis: XAG/USD returns above mid-19.00s; bulls flirt with 100-day Simple Moving Average

Alina Haynes

Oct 26, 2022 15:25

 196.png

 

Silver rises on Tuesday's rebound from the 200-hour simple moving average support and adds follow-through momentum for the second consecutive day on Wednesday. The upward move takes the precious metal back over the mid-$19.00 range during the early European session, bringing it closer to Monday's nearly two-week high.

 

The XAG/USD is currently flirting with the 100-day simple moving average (SMA), which, if decisively broken, would open the way for a near-term advance. In the meantime, oscillators on hourly charts remain bullish and have only begun to move into the positive zone on the daily chart. This, in turn, increases the likelihood of a future breach of the aforementioned barrier.

 

The XAG/USD pair might then attempt to exceed the $20.00 psychological level and climb toward the next significant barrier near $20.50. Bulls might then attempt to retake the $21.00 round-number level. This corresponds to the 200-day exponential moving average, above which the momentum might finally drive spot prices back to the monthly swing high, around $21.25.

 

On the other hand, the $19.20 region appears to protect the immediate downside ahead of the $19.00 level and the 200-hour simple moving average, which is currently in the $18.80 zone. A convincing breach below could prompt some technical selling and make the XAG/USD susceptible to accelerate the decline towards the $18.30-$18.25 intermediate support en route to the next crucial level near $18.00.

 

Failure to defend the latter will nullify any near-term bullish bias and return the bias to favor bearish traders. The continuing decline has the potential to bring the XAG/USD pair closer to its September low of $17.55 for the year. The decline might extend to the next significant support near the $17.00 round-number mark.

Suggestion