ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounce Gold Continues Its Rise In The Second Wave
After the FED's meeting on Wednesday, global central banks put the brakes on tightening their monetary policies, creating demand for ounce gold in international markets. On the other hand, the fact that the PMI data announced for major countries' economies remained below the threshold has also support. Under this outlook, if the commodity, which continues its rise in the second bullish wave, can record a permanent recovery to the 1797 resistance, it may cross the Fibonacci 38.2 percent fan line and target 1810 and then 1823 resistance. In the declines, 1773 and 1761 supports can be followed.
