U.S. Treasury Secretary Bessent Addresses China's 87% Rare Earth Refining Dominance
- Supply Chain Risks: U.S. Treasury Secretary Scott Bessent convened 11 finance ministers and EU officials to discuss China's 87% dominance in global rare earth refining, highlighting vulnerabilities in U.S. supply chains that could impact technology and defense sectors.
- Record Silver Prices: During the meeting, silver prices reached historic highs, reflecting a surge in demand for rare earths and other critical minerals, which exacerbates uncertainty in the U.S. global supply chain.
- Lack of New Policies: Although no new policies emerged from the meeting, the Trump administration is leveraging rare earth discussions to address national security risks, indicating a strong focus on mineral supply chains that may influence future trade policies.
- International Coordination: The meeting underscored the need for coordination among allied nations regarding mineral supply chains, and while no immediate policy announcements were made, it reflects a shared concern over China's dominant position, potentially leading to future cooperation and policy adjustments.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U) As of , Union (U) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for U 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, U 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 $-.
Union (U) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.97 | 0.977 | 0.989 | 0.996 | 1.007 | 1.014 | 1.026 |
| Fibonacci | 0.977 | 0.984 | 0.989 | 0.996 | 1.003 | 1.007 | 1.014 |
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