ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD: The Pressure Possibly Will Continue in Ounce Gold
On the day we left behind after the Kremlin announced there was no progress in peace talks with Ukraine, concerns that tensions in the Russian-Ukrainian war remain ‘high’ have increased demand for ounce gold, the safe haven leader. However, aggressive U.S. messages from the Federal Reserve (FED) to tighten monetary policy against high inflation continue to put strong pressure on the ounce of gold. Technically, the psychological mark of 1800 in the yellow metal is in a critical position, where the downward trend remains on the fourth trading day of the week. In the transition to the bottom of this place, the support of 1786 can be observed. In the possible upside scenario that the precious metal could experience, the resistances 1827 and 1840 could come to the fore.
