ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounces Gold Trying to Recover Despite Aggressive FED
We see the pressure on the commodity market after the US Federal Reserve (FED) increased the federal fund target by 75 basis points yesterday. However, there has been a demand for a safe harbor in the markets after Russian President Putin declared a partial mobilization. Technically speaking, the commodity appears to have slightly loosened after ending the descending wedge. In the correction path that the commodity is signaling, 1674 resistance is extremely critical. Once this is crossed, the recovery may accelerate to 1700, the psychological boundary line, following 1686. The 1646 – 1632 line below is the strong support zone.
