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The current UK employment data is better than expected, which eliminates the market’s previous concerns about the collapse of the country’s job market after Brexit and strengthens expectations that the Bank of England will hold steady on its interest rate decision this Thursday. Rather than the interest rate decision, we will pay more attention to the meeting minutes released by the Bank of England at the same time to see if there are any clues in the meeting minutes to increase easing policy in November or December.
The crude oil data released on Wednesday was significantly bullish. The U.S. Energy Information Administration announced that crude oil inventories fell by 10,000 barrels in the week ending March 1, far less than the expected increase of 10,000 barrels. Natural gas reports on Thursday showed U.S. natural gas inventories totaling 100 million cubic feet, an increase of 100 million cubic feet from the same period last year and an increase of 100 million cubic feet from the annual average.
The sharp decline in monthly industrial output in the Eurozone indicates that the region’s economic recovery is still moderate and difficult to quickly reverse the decline shown in the second quarter; the largest decline came from the manufacturing sector of production materials due to the three-month recession as of the end of the month. Monthly stagnation in investment spending, a negative factor that has long plagued the euro zone's economic development, has returned.
Technical analysis of non-ferrous silver
Looking at the weekly chart, silver closed with a big negative column this week. On Tuesday, the silver price fell back after hitting a high. From Wednesday to Thursday, the silver price maintained a range-bound state. Friday The dollar surged, silver was suppressed, and hit a new low at the point. Xiaofu rebounded and closed at the point early Saturday morning. The price of silver is currently near the daily moving average on the weekly chart. I think this is a relatively strong support level for the midline. The overall trend next week will behave in a band. The master can place a midline long order below. Judging from the daily chart, the closing line of the Bollinger Bands runs near the middle track of the Bollinger Bands. The two lines converge below the zero axis, translate, and the red energy column shrinks. The three lines spread downward and cross, and the current short position still needs time to digest. From the four-hour chart, the downward closing line of the Bollinger Bands runs below the lower track of the Bollinger Bands. The red energy column shrinks and crosses below. The silver price tested the high point twice on Thursday and then pulled back all the way. Next week, we will focus on the breaking of the first-line support level. The overall idea is to go long on callbacks.
Non-ferrous silver operation strategy
If you see &; near the bottom, you can stop loss in batches. If you see the target of &;, you can take profit;
If you see the &; near the top, you can place a short order. Stop loss point target sees &;take profit nearby;
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