ANALYSIS
NQ100 Finds Support from PPIApr 14
1950 will be critical in Gold
The highest inflation figures of the last 40 years in the US and expectations that FOMC will hike rates by 25 bps in the meeting this week have led to downward moves slightly. However, geopolitical risks caused by the Russian invasion of Ukraine continue to support the demand for safe haven assets. Technically, as long as it stays above 1950 level, we will follow 1988 and 2000 resistance levels as the bullish momentum will continue. On the other side, if we see a decline below 1950, two important supports, 1938 and 1924, will be on our radar.
