ANALYSIS
NQ100 Finds Support from PPIApr 14
Silver Finds Support with Moderate Dollar
Nonfarm payrolls (NFP) data released in the US last Friday were quite decisive in terms of asset pricing. Here, we see that the rise in unemployment rates to 3.7% in October created expectations that the US Federal Reserve (FED) may consider a softer tightening by 50 basis points at the last monetary policy meeting of the year, while the dollar retreated moderately. From this point of view, the 21.00 resistance in silver, which is an important member of the precious metals group that is on the upward path, will be followed closely. The level of 21.35, which will be the highest of about 5 months, can come to the fore in the transitions above the psychological 21.00. In possible decreases, 19.95 support can be followed after 20.30.
