Ichimoku cloud indicator analysis on Gold July 5th, 2023
July 5, 2023 2:22 pm
Gold is trading around $1,933 and is still inside the Kumo (cloud). Price is trading above the tenkan-sen (red line indicator) and is very close to breaking out and above the 4 hour Kumo (cloud). This would be an important sign of strength for the near term. Price is now challenging the upper cloud boundary resistance. Support by the tenkan-sen is at $1,927 and by the lower cloud boundary at $1,914. According to the Ichimoku cloud indicator, trend is neutral. The Chikou span (black line indicator) is bullish as it remains above the candlestick pattern.
The material has been provided by InstaForex Company – www.instaforex.com
Gold is trading around $1,933 and is still inside the Kumo (cloud). Price is trading above the tenkan-sen (red line indicator) and is very close to breaking out and above the 4 hour Kumo (cloud). This would be an important sign of strength for the near term. Price is now challenging the upper cloud boundary resistance. Support by the tenkan-sen is at $1,927 and by the lower cloud boundary at $1,914. According to the Ichimoku cloud indicator, trend is neutral. The Chikou span (black line indicator) is bullish as it remains above the candlestick pattern.
The material has been provided by InstaForex Company – www.instaforex.com
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