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On February 27, SenseTime (00020.HK) Technology announced that the number of direct individual registered users of the SenseTime Little Raccoon Family has exceeded 1 million, serving more than 300 corporate users. The final number of individual users has reached 15 million, and the daily token number has reached over 10 billion.On February 27, JPMorgan Chase released a research report stating that Ctrip Group (09961.HK)s net income in the fourth quarter increased by 23% year-on-year to 12.74 billion yuan, better than expected, and adjusted operating profit reached 2.76 billion yuan, better than expected, and adjusted earnings per share reached 4.35 yuan, better than expected. The bank expects that due to the increase in user growth in international OTA business, trip.com, etc., the sales and marketing ratio will increase and the profit margin outlook will decline, so its stock price is expected to react negatively to the fourth quarter results. The bank believes that given the strong return rate of 91% in 2024, the lack of short-term benefits brought by the adoption of GenAI and the weak profit margin outlook, investors may sell stocks to make profits after the results are announced. The bank lowered the companys earnings per share forecast for this year and next year by 4% each, and lowered its target price from HK$600 to HK$580, maintaining its overweight rating.Ukraines top commander: working together with brigades fighting to defend Ukraines Donetsk region as Russias offensive intensifies.The main contract of the Container Shipping Index (European line) narrowed its decline to 2.33% and is now reported at 1,788 points, having previously fallen by more than 6%.Futures news on February 27: 1. The trading volume of WTI crude oil futures was 706,606 lots, an increase of 44,190 lots from the previous trading day. The open interest was 1,778,090 lots, an increase of 9,291 lots from the previous trading day. 2. The trading volume of Brent crude oil futures was 143,068 lots, an increase of 21,456 lots from the previous trading day. The open interest was 175,710 lots, a decrease of 2,420 lots from the previous trading day. 3. The trading volume of natural gas futures was 551,821 lots, a decrease of 83,256 lots from the previous trading day. The open interest was 1,597,232 lots, an increase of 1,453 lots from the previous trading day.

Analysis of the Silver Price: 100-SMA and immediate resistance line probing XAG/USD buyer below $24.00

Daniel Rogers

Feb 01, 2023 15:28

 截屏2022-06-06 下午5.54.42.png

 

During early Wednesday's lethargic Asian session, the silver price (XAG/USD) fluctuates near the mid-$23.00s.

 

In doing so, the precious metal battles to defend yesterday's comeback from $23.00, the first positive day in four, while retreating from the 100-bar Simple Moving Average (SMA), which was approximately $23.70 at the time of publication.

 

The sluggish MACD indications that threaten Tuesday's corrective bounce also give the XAG/USD bears reason for optimism.

 

Notably, the metal's prolonged run-up over the $23.70 barrier may not be enough to satisfy Silver buyers, as a downward-sloping resistance line from January 16 near $23.85 threatens the metal's gains.

 

In addition, the $24.0 round number acts as a barrier to the upside; a breach of this level might accelerate the XAG/USD price to the previous monthly high near $24.55.

 

On the other hand, silver's retracement actions emphasize the $23.00 round number ahead of the previous weekly bottom near $22.75.

 

In the event that XAG/USD bears maintain control beyond $22.75, the December 2022 low around $22.00 will be in focus.

 

Despite recent fails to surpass important short-term obstacles, the Silver price remains on the radar of investors.