ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD:50 WMA Will Be Decisive On Ounce Gold
On the day we left behind, Federal Reserve Chairman (FED) Jerome Powell announced that it would continue to tighten monetary policy in the fight against high inflation. The high rate of 10-year U.S. bond yields and the strong rate of the dollar put pressure on ounces of gold. On the other hand, the high tension on the Russia-Ukraine line is driving investors to safe-havens. If the psychological level of 1800 can be left behind, the decline of the yellow metal could continue to the support of 1786, where the outlook is bearish, unless the level of 1832, indicated by the 50-period weighted moving average, is permanently exceeded. Moving above the possible 50 WMA, resistance at 1844 is observed, indicated by the upper band of the Minor Channel.
