ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounce Gold Prepares to Fall to 2-Year Low
While the expectations for the meeting of the Federal Open Market Committee (FOMC) dated November 1 - 2 are fixed at 75 basis points, there is a sales wave in the global bond market. The US 10-years hit 4.27%, the highest level since 2008, while ounce gold is struggling to find demand. Technically speaking, it is seen that the commodity has closed the minor channel and opened the way for downward expansion. 1611 is in the first support position. Ending here could accelerate sales to a 2-year low, with the psychological 1600. In upside attempts, 1632 and 1643 resistances remain important.
