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On May 17th, CNN reported that multiple sources familiar with the matter revealed that U.S. officials suspect Iranian hackers may be behind a series of intrusions into fuel storage monitoring systems at gas stations in multiple states. Sources stated that the hackers exploited security vulnerabilities in the Automated Tank Measurement (ATG) systems, which are directly connected to the internet and lack password protection. This allowed hackers to gain access and, in some cases, even tamper with the data displayed on the tanks, without altering the actual fuel levels inside. There is currently no indication that these cyber intrusions caused any physical damage or personal injury. However, private security experts and U.S. officials have stated that these incidents have raised security concerns because, theoretically, gaining access to the ATG system could prevent fuel leaks from being detected in a timely manner.According to local media reports, a fire broke out at the Olmeca oil refinery in Mexico early Saturday morning.On May 17th, the Trump administration allowed a sanctions waiver that encouraged the sale of Russian crude oil to expire, despite concerns about tightening global oil supplies and rising fuel costs stemming from the Iran war. This expiration effectively ended the Trump administrations brief easing of sanctions on Russian oil. During this period, previously prohibited oil purchases were permitted. The Trump administration first issued waivers in March of this year, and then renewed them after the initial waivers expired in April. However, both waivers only applied to a portion of Russian crude oil already loaded onto tankers. These waivers have been highly controversial, particularly among the USs European allies. Europe argues that sanctions are a crucial means of cutting off Russian oil revenues and weakening Moscows ability to finance the Russia-Ukraine conflict. However, some countries, including India and Indonesia, have been lobbying the Trump administration to extend the sanctions waivers.Israel Defense Forces: Initial reports indicate that alarms have been raised regarding enemy aircraft infiltration in the Shlomi and Hanita areas. Further details are under investigation.Rocket sirens sounded in Hanita, northern Israel.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.