ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD:Ounce Gold is Having Difficulty Finding Demand Before the FED
The critical June meeting of the Federal Open Market Committee (FOMC) will end today. While it is certain that the Committee will continue to tighten aggressively and increase the federal funding range by another 50 basis points at the meeting, an gold ounce is struggling to find demand against the dollar. Technically, with the end of the ascending wedge formation, the way for the downward path has been opened. If the 1808 support, which plays a role as the determinant of sales below, can end, the pullbacks can accelerate to the 1792 level, which was last seen on 16 May, after the psychological 1800 level. In possible upward attempts, 1827 and 1835 resistances will be followed.
