ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD:The Level of 1840 Will Be Decisive in Ounce Gold
We see the demand continues for ounce gold with concerns about inflationary pressures in global markets. On the other side, while tensions are high in the Russia-Ukraine war, it is observed that the yellow metal is supported by the sanction race between the West and Russia. In addition, the revision of the Organization for Economic Cooperation and Development (OECD), which indicates that the global economy will slow down sharply in 2022, also has an impact. Technically, unless the 1840 level, which points to the lower border line of the ascending minor channel, is broken, in the commodity where the upside signals will continue, the gains can continue until the 1872 resistance, if the 1859 resistance level is permanently exceeded. In the possible transition to 1840 gold, 1826 support will be followed closely.
