ANALYSIS
NQ100 Finds Support from PPIApr 14
Profit Selling May Continue on XAUUSD
We observe that the pressure on the precious metal has increased before the US Federal Reserve (Fed) Chairman Jerome Powell's statements today. While accelerating the profit sales after the test of the rising wedge formation in the commodity that went under the uptrend, it may be desirable to target the 1838 - 1837 support range, which is indicated by the Fibonacci 38.2 correction level in the current pressure. For the sake of the continuation of the downward movements, while we are following the permanence under this region, if the transition to the 1837 support is not achieved, it may be desired to target the 1846 and 1852 resistances again.
