ANALYSIS
NQ100 Finds Support from PPIApr 14
Fed puts pressure on Gold prices
Following the strong labor data released in the US, the markets expect 50-bps-rate hike from the Federal Reserve, leading to pressure on Gold. Technically, the commodity is going downwards within the descending channel and if it breaks 1920 support today, we will follow 1910 support closely. On the other side, 1944 resistance will be important for us, in case, bullish moves are triggered in the precious metal.
