China Blocks New Subscriptions for UBS SDIC Silver Fund Amid Price Surge
- Subscription Restrictions: In response to silver prices surging over 60% above the value of its underlying assets, China has decided to halt new subscriptions for Class C shares of the UBS SDIC Silver Futures Fund starting Monday, aiming to mitigate investor risk.
- Market Reaction: The fund hit its 10% daily limit for three consecutive sessions, prompting the manager to reduce the maximum subscription limit for Class C shares from 500 yuan to 100 yuan, indicating sustained strong demand for silver in the market.
- Speculative Trading Surge: A speculative frenzy fueled by social media has driven silver prices up approximately 150% in global markets, with retail traders in China exacerbating market volatility, leading the fund manager to label the price movements as “unsustainable.”
- Supply-Demand Imbalance Risks: With silver inventories near historical lows and global policy pressures pushing prices higher, the low liquidity in the silver market increases risks, particularly as the conflict between rising retail demand in China and limited supply becomes more pronounced.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00385 | 0.0169 | 0.0278 | 0.0409 | 0.0518 | 0.0649 | 0.0758 |
| Fibonacci | 0.0169 | 0.026 | 0.0317 | 0.0409 | 0.05 | 0.0557 | 0.0649 |
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