ANALYSIS
NQ100 Finds Support from PPIApr 14
The Pressure Decreased in Ounce Gold
As a result of the recession concerns regarding the G20 countries, we see that the demand for ounce gold remains alive. In addition, the 146 billion dollar stimulus package announced by China to support growth and reduce the effects of the pandemic has an upward effect on gold. Technically, if the yellow metal ending its descending wedge appearance can surpass the 1774 level in its bullish trials, it could bring into question the psychological 1800 resistance after 1788. In the downward movements that may be experienced, 1750 and 1737 supports can be followed.
