Ichimoku cloud indicator analysis on Gold for August 29th, 2023.
August 29, 2023 1:24 pm
Gold price is under pressure today. Price is trading around $1,915 after making a high at $1,925. Price is currently trading below the tenkan-sen (red line indicator). Next support is the kijun-sen (yellow line indicator) at $1,913. According to the Ichimoku cloud indicator trend remains bullish. A break below the kijun-sen will open the way for a bigger decline towards the cloud support at $1,903. Bulls continue to have hopes as long as price holds above the cloud. The Chikou span (black line indicator) is above the candlestick pattern (bullish). The Chikou span changes to bearish if price breaks below $1,902.
The material has been provided by InstaForex Company – www.instaforex.com
Gold price is under pressure today. Price is trading around $1,915 after making a high at $1,925. Price is currently trading below the tenkan-sen (red line indicator). Next support is the kijun-sen (yellow line indicator) at $1,913. According to the Ichimoku cloud indicator trend remains bullish. A break below the kijun-sen will open the way for a bigger decline towards the cloud support at $1,903. Bulls continue to have hopes as long as price holds above the cloud. The Chikou span (black line indicator) is above the candlestick pattern (bullish). The Chikou span changes to bearish if price breaks below $1,902.
The material has been provided by InstaForex Company – www.instaforex.com
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