ANALYSIS
NQ100 Finds Support from PPIApr 14
The demand for gold is likely to rise
25-bps-rate-hike of the Federal Open Market Committee led to a bearish pressure on Gold; however, Fed Chair Jerome Powell was not as hawkish as expected, relieving this pressure shortly after the decision. On the other side, tensions are high due to Ukraine – Russia war and statements of the US and Russian Presidents accusing each other and we observe bullish moves in Gold. Considering all these, we believe that if Gold prices exceeds 1950 resistance on the last trading day of the week, it will head for 1950 and 1969 resistance levels. On the other side, we will keep an eye on two significant support levels; 1913 and 1895.
