ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD:Ounce Gold Prepares to End the Week with a Horizontal View
The direction of ounce gold is still being sought. Aside from the repercussions of Federal Reserve Chairman Jerome Powell's failure to rule out the possibility of a recession in his presentation to the Senate, the pressure of global policy tightening is making it difficult to predict the direction of the precious metal. Technically, it is clearly seen that the yellow metal is showing band movement after ending the rising wedge formation. It will continue to be the 1812 – 1800 strong support zone below. Sells are unlikely to consolidate unless the psychological 1800 level ends in permanent closes. In upward erosion, the 1840-1856 resistance zone is the most important barrier to 1870, which was last seen on June 13.
