FX.co ★ Ichimoku cloud indicator analysis on Gold for July 15th, 2022.

Gold price ended the week near its weekly lows. Trend remains bearish as price continues making lower lows and lower highs. In Ichimoku cloud terms trend remains bearish as price is below both the tenkan-sen and kijun-sen indicators. If bulls manage to push price above the tenkan-sen (red line indicator), then we will be expecting price to move higher towards $1,720 and $1,744. Current market conditions justify a reversal, but we have no confirmation yet.