Ichimoku cloud indicator analysis on Gold for September 25th, 2023.
September 25, 2023 1:27 pm
Gold price is trading around $1,924. In the daily chart trend remains bearish as price remains below the cloud. Price made an attempt last week to break above the cloud but bulls failed to break above the Kumo (cloud) resistance. Price is now above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). These two indicators provide support at $1,923 and $1,918. The Chikou span (black line indicator) is above the candlestick pattern (bullish). In order for trend to change to bullish we need to push price above $1,936.
The material has been provided by InstaForex Company – www.instaforex.com
Gold price is trading around $1,924. In the daily chart trend remains bearish as price remains below the cloud. Price made an attempt last week to break above the cloud but bulls failed to break above the Kumo (cloud) resistance. Price is now above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). These two indicators provide support at $1,923 and $1,918. The Chikou span (black line indicator) is above the candlestick pattern (bullish). In order for trend to change to bullish we need to push price above $1,936.
The material has been provided by InstaForex Company – www.instaforex.com
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