Ichimoku cloud indicator analysis on Gold for July 28th, 2023.
July 28, 2023 2:23 pm
Gold price is trading around $1,954 after moving as low as $1,942 yesterday. Price tested the kijun-sen (yellow line indicator) support at $1,939 and held above it. Bulls continue to defend Gold. In Ichimoku cloud terms trend is neutral as the candlestick pattern is still inside the Kumo (cloud). The Chikou span (black line indicator) is above the candlestick pattern (bullish). Price is inside the Kumo and in order for trend to change to bullish we need to see price break above $1,994. A daily close above the tenkan-sen resistance at $1,965 would be the first sign of strength.
The material has been provided by InstaForex Company – www.instaforex.com
Gold price is trading around $1,954 after moving as low as $1,942 yesterday. Price tested the kijun-sen (yellow line indicator) support at $1,939 and held above it. Bulls continue to defend Gold. In Ichimoku cloud terms trend is neutral as the candlestick pattern is still inside the Kumo (cloud). The Chikou span (black line indicator) is above the candlestick pattern (bullish). Price is inside the Kumo and in order for trend to change to bullish we need to see price break above $1,994. A daily close above the tenkan-sen resistance at $1,965 would be the first sign of strength.
The material has been provided by InstaForex Company – www.instaforex.com
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