FX.co ★ Ichimoku cloud indicator analysis on Gold.

Gold price is trading around $1,975 and today price is challenging the important kijun-sen (yellow line indicator). Price remains above the Kumo (cloud) confirming trend remains bullish. If bulls manage to close price above the kijun-sen then we will get a bullish signal.

It is important for bulls to keep price above the Kumo and above the tenkan-sen (red line indicator). Cloud support is found at $1,950. Resistance at $1,979. The tenkan-sen (red line indicator) is positively sloped and if it crosses above the kijun-sen we will get another bullish signal. So far price action supports the bullish scenario. No sign of a reversal.