ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD:PMI Support to Ounce Gold
According to the data announced by the China Logistics and Purchasing Federation (CFLP) in the early hours of today; in the country in May, the manufacturing purchasing managers' index (PMI) was at the level of 49.6 points, while the non-manufacturing purchasing manager’s index (PMI) was 47.8 points. However, with the emergence of a risk-averse environment in the quotations on the second trading day of the week, we are watching the demand for ounces of gold, the leader of the precious metals group, has increased. Technically, as long as the 1840 level is defended below as a support, the losses of 1884 and 24 days following 1869 can be recovered with the recovery path that will be preserved. In case of possible sagging below 1840, 1826 support can be observed.
