• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 6, Russian Presidential Aide Ushakov said early on the 6th that President Putins meeting with US President Trumps special envoy Witkov and son-in-law Jared Kushner at the Kremlin on the evening of the 5th lasted more than three hours and was substantive and "constructive." Ushakov said that the Russian side made a clear and comprehensive assessment of the current situation, including the situation developing during the special military operation. In particular, the Russian side pointed out the actual progress made by the Russian army in the theater of operations and expressed confidence in achieving its established objectives, while also emphasizing the necessity of eliminating all the root causes of the conflict. Ushakov stated that Russia reiterated its willingness to continue working with the US to seek a solution through political and diplomatic means. Both sides confirmed that the two presidents will continue to maintain direct contact.Russian Presidential Aide Ushakov: Putin is prepared to cooperate with the United States to seek a diplomatic solution to the Russia-Ukraine issue.September 6 - According to the Islamic Republic News Agency (IRNA), the public relations department of the Iranian Islamic Revolutionary Guard Corps issued a statement on September 5 denying that the Isfahan nuclear technology center and nuclear facilities had been attacked, calling the related reports purely fabricated. The statement said that spreading such content during the current sensitive situation is an attempt by hostile forces to create tension, disrupt public opinion, and incite public panic.September 6 - According to Irans Fars News Agency, a deputy political official of the Iranian Revolutionary Guard Navy stated that in the 10 days leading up to August 30, Iranian naval forces were "punishing" two to five "violations" of regulations every night in the Strait of Hormuz. The official added that the US attacks "did not cause the slightest disruption to Irans control in the region."On September 6th, Israeli public radio reported on the 5th that the Israeli military is preparing to partially withdraw from southern Lebanon and plans to establish a smaller "safe zone" along the Lebanese-Israeli border. The report stated that the Israeli military recently completed the destruction of Hezbollah tunnels beneath the Ali Tahir heights in the Nabatayah region of southern Lebanon, subsequently formulating the aforementioned relocation plan. Israeli security officials said that under the new plan, the Israeli military will withdraw to a position closer to the Lebanese-Israeli border, reducing the depth of its controlled area in southern Lebanon from the current approximately 10 kilometers to 3-4 kilometers. The new deployment line, referred to as the "grey line," will replace the current "yellow line."

XAGUSD maintains stability above the middle of $21.00, around the 200 DMA pivot point

Alina Haynes

Nov 14, 2022 18:45

184.png 

 

Silver has modest buying interest near $21.30 on Monday and reaches a new daily high during the first half of the European trading session. The white metal is currently trading in the $21.65-$21.70 range, but remains below Friday's five-month high.

 

In a broader context, the XAGUSD has struggled to capitalize on its upward rise beyond the extremely significant 200-day simple moving average (SMA). Before positioning for any additional near-term appreciation, it would be advisable to await some follow-through buying.

 

From current levels, the multi-month high near $22.05 could represent an immediate obstacle. The next significant resistance is located in the $22.45-$22.50 supply zone, which, if broken, will provide as a new bullish trigger and pave the way for further rises.

 

The XAGUSD might then accelerate its momentum towards $23.00 and eventually ascend to the May swing high in the vicinity of $23.25-23.30. Given that the RSI on the daily chart is on the edge of entering the overbought zone, the latter should prove difficult for bulls to overcome.

 

In contrast, the zone around the daily low of $21.35 presently appears to safeguard the immediate downside. Any more decline might be viewed as a buying opportunity and should be contained near $21.00, which could now serve as a pivot point for short-term traders.

 

A decisive breach below might spark technical selling and bring the XAGUSD below the $20.40 support zone. Failure to defend the aforementioned support levels could nullify the near-term bullish picture and change the market's tilt towards negative traders.