ANALYSIS
NQ100 Finds Support from PPIApr 14
Recovery in Ounce Gold Has Not Been Permanent
The US 10-year bond yields retreated to 4.15%. Although ounce gold eased a little with the effects of this, it seems that the pressure of the strong dollar is preserved. As a matter of fact, the effect of the leading officials of the US Federal Reserve (FED) maintaining their hawkish messages continues on the yellow metal. Technically speaking, 1628 support may come to the fore again if the precious metal, which has not been permanent in the recovery attempts and continues to defend the descending channel movement, goes below the 1640 level. In possible upward attempts, 1662 resistance, which is the upper boundary line of the channel, can be followed closely.
