EUR/USD 1.15424
0.000%
Gold 4187.94
-1.679%
Oil 87.591
0.275%
USD/JPY 160.343
-0.012%
GBP/USD 1.33804
0.013%
GBP/JPY 214.552
0.003%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 10th - The 2026 Berlin International Air Show is scheduled to open on the 10th local time, with German Chancellor Merz scheduled to attend the opening ceremony. The Berlin International Air Show is held every two years, and this years event will run until the 14th.The Hang Seng Tech Index fell by more than 1%, with commercial aerospace and CPO concept stocks leading the decline.Hong Kong-listed tech stocks saw some gains, with Kuaishou (01024.HK) rising over 5%, and NetEase-S (09999.HK), Tencent Holdings (00700.HK), Baidu (09888.HK), and other stocks following suit.June 10 – The Democratic Republic of Congo (DRC) Ministry of Health reported on June 9 that as of June 8, the total number of confirmed Ebola cases in the DRC had risen to 598, with 115 deaths. The report indicated that 297 patients are currently in isolation or hospitalized, and the total number of recovered patients has risen to 22. The report stated that the number of confirmed cases is increasing weekly, community transmission continues, and the outbreak could suddenly expand geographically if public health measures are not implemented swiftly. The Africa Centres for Disease Control and Prevention (Africa CDC) announced on June 9 on its social media platform X that it has issued interim guidelines to African Union member states to strengthen Ebola surveillance and cross-border control efforts. The agency stated that due to frequent population movement, close trade relations, and weak border controls, the risk of the outbreak spreading to neighboring countries remains high.June 10th - Oil-themed LOFs (Listed Open-Ended Funds) fluctuated higher, with crude oil LOFs such as E Fund, Harvest Crude Oil LOF, and Southern Crude Oil LOF all rising by over 4%. Other oil LOFs and oil fund LOFs followed suit. The U.S. Central Command stated that it completed a defensive strike against Iran on June 9th in response to the downing of a U.S. Army Apache helicopter the previous day. The Iranian Armed Forces Hatem Anbia Central Headquarters subsequently stated that it had carried out a "fierce strike" against U.S. military bases in the Middle East.

Silver Price Analysis: Near 50 DMA, XAG/USD rises to mid-$23.00s

Alina Haynes

Feb 03, 2023 15:21

Silver attracted buyers around its 50-day simple moving average (SMA) on Friday, halting its previous day's regression from its highest level since April 2022. In the early European session, the precious metal maintains a moderately bullish tone, although the intraday increase lacks bullish confidence.

 

The XAG/USD has formed a rectangle pattern on the daily chart during the previous half-month, bouncing in a typical range. This indicates traders' hesitation and calls for care before putting aggressive direction bets. The inability to gain acceptance above the $24.50 supply zone overnight validates the trading range resistance, which should now serve as a pivot point.

 

Given that technical indications on the daily chart have only recently begun to drift into negative territory, it would be smart to await a sustained advance beyond the aforementioned barrier before putting bullish wagers. The XAG/USD pair might then attempt to recapture the $25.00 psychological level for the first time since April 2022. On the way to $26.00, the momentum could be extended towards the next significant obstacle near the $25.35 region.

 

Conversely, any further decline below the horizontal zone between $23.40 and $23.30 may continue to find support around the $23.00 to $22.95 region. This is followed by support in the $22.75 range, which, if forcefully broken, could pull the XAG/USD to the next key support near the $22.20-$22.15 zone before the $22.00 level.


Suggestion