Ichimoku cloud indicator analysis on Gold for July 25th, 2023.
July 25, 2023 2:22 pm
Gold price is trading below $1,960. In the 4 hour chart trend has changed from bullish to neutral as price enters inside the Kumo (cloud). The Chikou span (black line indicator) has turned bearish by breaking below the candlestick pattern. As long as price is inside the Kumo, Gold will be vulnerable to a pull back towards $1,946 where we find the lower cloud boundary. Resistance by the cloud is found at $1,967 and next at the kijun-sen (yellow line indicator) at $1.970. Support by the lower cloud boundary is at $1,943.
The material has been provided by InstaForex Company – www.instaforex.com
Gold price is trading below $1,960. In the 4 hour chart trend has changed from bullish to neutral as price enters inside the Kumo (cloud). The Chikou span (black line indicator) has turned bearish by breaking below the candlestick pattern. As long as price is inside the Kumo, Gold will be vulnerable to a pull back towards $1,946 where we find the lower cloud boundary. Resistance by the cloud is found at $1,967 and next at the kijun-sen (yellow line indicator) at $1.970. Support by the lower cloud boundary is at $1,943.
The material has been provided by InstaForex Company – www.instaforex.com
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