EUR/USD 1.18187
0.078%
Gold 5187.08
0.444%
Oil 65.466
-0.092%
USD/JPY 155.865
-0.322%
GBP/USD 1.35601
0.007%
GBP/JPY 211.359
-0.303%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hong Kong-listed tech stocks fluctuated and weakened, with Kuaishou (01024.HK) and Baidu (09888.HK) falling by more than 3%, Alibaba (09988.HK) falling by more than 2%, and Meituan (03690.HK) and NetEase-S (09999.HK) following suit.February 26 - Shell is in talks with several companies, including a subsidiary of Abu Dhabi National Oil Company (ADNOC), to sell a minority stake in its A$34 billion (approximately US$24 billion) Northwest Shelf gas export project in Western Australia, sources familiar with the matter revealed. According to the sources, discussions with bidders such as XRG, an investment arm of ADNOC, and Midocean Energy, in which Saudi Aramco has a stake, are currently in the preliminary stages. Other potential buyers are also monitoring the situation. Shell has been increasing its investment in liquefied natural gas (LNG). However, media reports last September indicated that Shell would explore selling its 16.67% stake in the Northwest Shelf project due to plans to convert the facility into a so-called third-party processing plant. A spokesperson stated that Shell regularly assesses its portfolio to support prudent capital allocation. "We continue to work closely with our Northwest Shelf project partners to create value, maximize future performance, and meet customer needs."According to futures news on February 26th, as of the week ending February 21st, Japanese commercial crude oil inventories increased by 580,487 kiloliters from the previous week to 10,292,946 kiloliters. Japanese gasoline inventories decreased by 48,567 kiloliters from the previous week to 1,657,984 kiloliters. Japanese kerosene inventories decreased by 74,737 kiloliters from the previous week to 1,380,684 kiloliters. The average operating rate of Japanese refineries was 90.5%, compared to 89.0% the previous week.The main contract for the container shipping index (European route) fell by 6.00% during the day, and is currently trading at 1225.0 points.On February 26th, according to Qichacha APP, Alibaba (China) Co., Ltd. recently applied for and published a patent for "Generative Language Model and Training Method, Device, Electronic Equipment, and Storage Medium". This application largely solves the interpretability problem of generative language models and is of great significance for applying generative language models to occasions with high information accuracy requirements.

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