ANALYSIS
NQ100 Finds Support from PPIApr 14
Medium Term Uptrend Potential is Maintained in Ounce Gold
We see demand for ounce gold remains resilient as investors hesitate to take aggressive positions ahead of tomorrow's Federal Open Market Committee (FOMC) meeting. On the other hand, with the relaxation of coronavirus measures in China, the volatility in the bond market supports the yellow metal. As a matter of fact, it is observed that the commodity maintains its medium-term uptrend potential above the 100-period weighted moving average (WMA). 1800, the psychological boundary line above, is extremely critical. If this point is exceeded, 1815 resistance may come to the fore. In possible declines below 100 WMA, 1774 and 1760 supports can be followed.
