ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD:50 WMA Will Be Decisive on Ounce Gold
Minutes of the Federal Open Market Committee's (FOMC) dated May 3- 4 meeting will be released today. Although ounce gold prices decreased slightly due to the messages that the bank might increase the monetary tightening momentum before the minutes, we observe that rising inflation and slowing growth concerns in global markets continue to increase the demand for safe havens. In addition, the moderate loosening of the US 10-year bond yields also has an impact here. Technically, gains can last up to 1886 resistance if the 1872 resistance is overcome, under which the buying potential will be preserved in the persistence provided above the 1843 level indicated by the 50-period weighted moving average. In a possible transition below 50 WMA, 1830 support can be followed.
