ANALYSIS
NQ100 Finds Support from PPIApr 14
Rebound Potential is Maintained Ounce Gold
Pricing of less aggressive interest rate hike expectations of 50 basis points for the December meeting of the US Federal Reserve (FED), which has few days left, reduces the US 10-year treasury yields below 3.50% again, while supporting ounce gold. Technically speaking, the yellow metal seems to be defending the 50-period simple moving average (MA) in its declines. However, if the commodity, which maintains its short-term upside potential, recovers to the resistance of 1786, the psychological 1800 level may come to the fore. In the possible declines below 50 MA, 1758 and 1744 supports can be followed.
