ANALYSIS
NQ100 Finds Support from PPIApr 14
Powell Pressure on Ounce Gold
Yesterday, the US Federal Reserve (FED) reduced the policy tightening rate to 50 basis points in line with market expectations. However, after the meeting, FED Chairman Powell's statement that they were far from ending the interest rate hikes started to put pressure on the ounce gold on the new trading day. From this point of view, if the ounce gold, which ends the upward trend, can fall below the 1760 support, it can correct until 1745, which is indicated by the Fibonacci 38.2% retracement line. In possible upward attempts, 1790 and 1806 resistances can be followed.
