ANALYSIS
NQ100 Finds Support from PPIApr 14
Gold is at the top of the last 18 months
Tensions related to Russian invasion of Ukraine increase day by day and sanctions continue to come from the West. US Secretary of State Blinken’s statement that the US and the EU are considering halting oil imports from Russia has increased inflation forecasts, leading to risk aversion in financial markets and increasing the demand for Gold. Technically, Gold hit the highest level of the last 18 months and if it exceeds 1980, we will follow Fibonacci 100.0 percent expansion line indicating 2008 and 2022 resistance levels. On the other side, we will follow 1962 support in possible falls.
