ANALYSIS
NQ100 Finds Support from PPIApr 14
Pressure continues on Gold
Hawkish statements noting that 75 bps rate hike is highly likely in July meeting from the FOMC members against high inflation in the US put pressure on Gold prices. In addition CPI data that will be announced today may increase this pressure. Technically, the precious metal is below the minor trend and bearish. If it breaks 1715 level, it will target 1706 support. In possible price spurts, on the other hand, we will follow 1734 and 1742 resistance levels closely.
