ANALYSIS
NQ100 Finds Support from PPIApr 14
Gold is bullish due to the geopolitical risks
Although higher-than-expected non-farm payrolls data and expectations that Fed’s rate hike will be 50 bps in March put pressure on Gold, geopolitical risks derived from the Ukraine – Russia tensions support bullish moves in the precious metal. Technically, we will follow 1817 and Fibonacci 61.8 percent retracement line indicating 1826 level. In possible sales, we will follow 1800 support closely. If this level is broken downwards, 1794 and 1786 levels will be our support levels, respectively.
