Silver investment: another Japanese cruise ship is now gathering infection! The oil price crash continues! Beware of indiscriminate selling again!

Spot silver was trading at $14.781 an ounce on Wednesday. Silver extended its rally to a high of $14.959 an ounce on the day before falling to a low of $14.515 an ounce in the previous session, before rebounding from that point to a short-term consolidation pattern.

In terms of epidemic situation, Worldometers world real-time statistics show that as of 10:31 Beijing time on April 22, a total of 2,557,181 confirmed COVID 19 cases, a total of 177,641 deaths and a total of 690,444 cured cases were reported globally. The United States had the most confirmed COVID 19 cases in the world, with 819,164 cases, 45,340 deaths and 82,973 cures.

A novel coronavirus virus has infected 33 people in the Italian cruise ship “costa Atlantic” in Nagasaki, Japan, public broadcaster NHK reported Monday. The ship has no passengers and a crew of 623.

A crew member of the costa Atlantic was diagnosed with a novel coronavirus Monday, NHK television reported Thursday. A total of 57 people who had close contact with the virus were tested for novel coronavirus Wednesday in Nagasaki.

There were no passengers on board the ship, which was reportedly docked for repairs at mitsubishi heavy industries’ Nagasaki shipyard in Nagasaki city. The first confirmed crewman developed fever on the 14th and was quarantined in his cabin on the 20th. Japan’s health ministry and national infection institute have sent staff to Nagasaki to help deal with the outbreak on the cruise ship.

A novel coronavirus virus infected 38 people between 0 a.m. and 11 p.m. local time, bringing the total number of confirmed COVID 19 cases to 11581, NHK said. The number of deaths from covid-19 in Japan is currently 283.

The collapse in the oil market triggered fragile nerves, overnight precious metals also suffered an indiscriminately selling, and the current collapse in oil prices is still continuing.

So far, WTI crude futures turned lower, now at $11.50 a barrel, after earlier rising more than 20 percent. Brent crude futures are also down more than 8%.

“Oil really blew the whole commodity market out of the water,” said Bob Haberkorn, senior market strategist at RJO Futures.

FXTM analyst Lukman Otunuga said: “the historic drop in oil prices and heightened fears of a severe global recession could trigger another wave of demand for capital, with gold facing a downward shock as the dollar rises. “While the adverse global macroeconomic environment, the turmoil surrounding the coronavirus outbreak and the gloomy outlook for the oil market may accelerate the flight to safe assets, gold and silver may not be the preferred safe investment destination for investors.”

Technical analysis:

The dollar

On the daily chart, the dollar index continued the trend of the recent rebound shock, MACD green momentum column unchanged, KDJ random index further higher, indicating that the dollar upward momentum is still in place, the next expected to further extend the rebound.

On the 4-hour chart, the dollar index temporarily closed trading in a narrow range, MACD red kinetic energy column unchanged, the KDJ random index moderate pressure, indicating that the dollar may be trapped in a short range for a period of consolidation.


On the daily chart, silver prices to maintain a moderate pullback potential, MACD red kinetic energy column narrowing, KDJ random index further lower, indicating that silver pullback kinetic energy to strengthen, silver prices to receive incoming materials to continue to withdraw soft.

On the 4 hour chart, silver prices maintained a volatile downward trend, MACD green momentum column slightly expanded, KDJ random indicators slightly more pressure, indicating that silver short – term downward momentum is still in place, and may continue to decline.

fundamentals Positive factors :

  1. According to the real-time statistics released by Johns Hopkins university, there were more than 2.56 million confirmed covid-19 cases and 176,926 deaths globally. More than 820,000 cases have been confirmed in the United States, with a total of 44,805 deaths.
  2. US President Donald trump announced at a White House briefing on the outbreak on Tuesday that he plans to issue a 60-day executive order suspending immigration to the us by foreign nationals. Mr Trump said the order would only apply to people applying for permanent residency and would not affect short-term visitors. “By suspending immigration, we will help unemployed americans find jobs when the American economy reopens,” trump said.

3, April 21, President of the United States the latest published a trump tweets: “we will never disappoint the great American oil and gas industry, I have directed energy minister and finance minister to develop a plan, in order to provide funds, these very important company and work in the future for a long period of time are guaranteed!”

  1. U.S. existing home sales fell at an annualized rate of -8.5 percent in March, the biggest drop since November 2015. Sales of previously owned U.S. homes fell at their fastest pace in four and a half years in March as unconventional measures stemming from a new outbreak virtually halted home buying, bolstering analysts’ view that the economy will contract sharply in the first quarter. The figures reflect contracts signed in January and February, before the new outbreak crippled the economy, so April sales are likely to fall more sharply.

Fundamental negative factors:

  1. President Trump said on Tuesday that the hospital ship Comfort, deployed in New York, would leave the city “in preparation for the next mission.” The comfort is being used to provide emergency assistance to health workers fighting the coronavirus. “There is light at the end of the tunnel,” Trump said of the COVID 19 outbreak. Last week, Mr. Trump said that none of the patients on board showed that New York City was recovering. “It’s a good thing they don’t need it. This is a good thing. I think it shows that New York is making progress.”
  2. Democrats and Republicans disagreed Monday over who should be held responsible for the delay as they worked out the details of a bailout that could exceed $450 billion.
  3. US President Donald Trump says the drop in oil prices is very short-lived. Now is a good time to buy crude, and hopefully, Congress will support it. Up to 75m barrels of oil are being studied for inclusion in the strategic petroleum reserve.
  4. On April 16, U.S. President Donald Trump laid out guidelines for a three-stage state-to-state economic reboot, set testing standards that states must meet, and required rapid provision of protective gear to reopen. The governors of each state can carry out the guidelines according to the conditions of their own state, rather than relying on the orders of the federal government. The guidelines, titled “open America again,” have not yet been officially released, and Mr. Trump has distributed documents to state governors.

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