ANALYSIS
NQ100 Finds Support from PPIApr 14
Reactions in Ounce Gold Has Not Been Permanent
The demand to buy from the bottom created some reaction to the ounce gold pricing. However, President Powell's maintaining his hawkish stance by saying that a restrictive monetary policy stance is probably needed for a while longer at the FED meeting, where interest rates were increased by 75 basis points, does not allow ounce gold prices to enter a permanent recovery path. From this point of view, in the yellow metal, which is likely to face selling pressure as long as the 1658 level, which is indicated by the upper boundary line of the minor channel above, is defended as resistance, the 1624 level can be caught on the radar of market players after 1636 support. In the possible transition above 1658, the 1670 resistance can be followed.
