Germany March PPI +0.9% vs +0.6% m/m expectePrior +0.7%PPI +3.7% vs +3.3% y/y expectedPrior +1.9%

Base effect adjustments and higher input costs from supply constraints are the likeliest contributors here, helping to reaffirm higher price pressures in general.

Further Development

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Analyzing the current trading chart of Gold, I found that there is the potential completion of the downside correction and new upside wave to begin.

My advice is to watch for buying opportunities with the upside targets at $1.789 and $1.815.

Stochastic oscillator is showing bull cross mode….

Key Levels:Resistance: $1.789 and $1.815.Support level: $1.765

The material has been provided by InstaForex Company – www.instaforex.com

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