Gold price ends the year on a bullish note. As we explained and mentioned in previous posts using the Ichimoku cloud indicator, Gold price was in a short-term bullish trend as price was above the 4 hour cloud, but in the Daily chart things were a bit unclear. Today we have a bullish signal as price is breaking above the Daily cloud resistance.
In the 4 hour chart, Gold price back tested the cloud support and bounced off of it. Price is now making higher highs. The tenkan-sen has crossed above the kijun-sen and the Chikou span is also making new highs above the candlestick pattern. All signs remain bullish and we continue to be optimistic for Gold first few sessions of 2022. Gold is expected to continue higher towards $1,850 if $1,830 is broken. At $1,830 we find important Fibonacci resistance.