ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD is supported by the West vs. Russia Tensions
Tensions continue to rise due to the sanctions against Russia. The US expanded the circle by placing more than 300 members of the lower house of the Russian Parliament on the sanctions list. While the UK, which played the most active role in international politics in the Ukraine crisis, decided to impose sanctions on 65 Russian business people, banks and companies, and the European Union leaders called on Russia to stop war crimes immediately. As a matter of fact, the risk aversion supported the safe haven assets. If the gold, which gained 1 percent more value with yesterday's safe haven purchases, completes its transition above 1974 resistance with today's positive outlook, it can bring back 2009 level, which was last seen on March 10, after 1990. In possible retreats, on the other side, the 50-period exponential moving average, which marks 1909 below 1936, can be significant for long positions.
