Ichimoku cloud indicator analysis on Gold for April 25th, 2023.
April 25, 2023 4:23 pm
Gold price remains in a bearish trend in the 4 hour chart according to the Ichimoku cloud indicator. Price made an attempt to bounce higher but price was unable even to penetrate into the Kumo (cloud). Short-term trend remains bearish. Price is again below both the tenkan-sen and kijun-sen indicators. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). Price has not made new lower lows but it is very possible to see lower prices over the coming days. As long as price is below the Kumo, bears will be in control. Resistance is found at $2,000. Bulls need to push price above this level in order to change trend to neutral.
The material has been provided by InstaForex Company – www.instaforex.com
Gold price remains in a bearish trend in the 4 hour chart according to the Ichimoku cloud indicator. Price made an attempt to bounce higher but price was unable even to penetrate into the Kumo (cloud). Short-term trend remains bearish. Price is again below both the tenkan-sen and kijun-sen indicators. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). Price has not made new lower lows but it is very possible to see lower prices over the coming days. As long as price is below the Kumo, bears will be in control. Resistance is found at $2,000. Bulls need to push price above this level in order to change trend to neutral.
The material has been provided by InstaForex Company – www.instaforex.com
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