ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounce Gold May Update 2.5-Year Low
Pricing the expectations that the Federal Open Market Committee (FOMC) will continue its aggressive interest rate hikes at its meeting tomorrow, the US 10-years rises up to %3.5 in global markets, ounce gold is struggling to find demand. Technically speaking, the yellow metal appears to maintain its short-term selling potential below the 30-period exponential moving average (EMA). With the downward pressure that will be in effect unless the 30 EMA that marks 1681 ends, the commodity may fall to its 2.5-year low with 1645 behind 1657. 1694 resistance will be followed in the possible transition over 1681.
