FX.co ★ Ichimoku cloud break out for Gold on November 10th, 2022.

Gold price is breaking above the Ichimoku cloud in the Daily chart after 6 months trading below the Kumo. The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) both have positive slopes and we expect soon to see a new bullish signal with the tenkan-sen crossing above the kijun-sen. It is important for bulls to defend price and keep it above the cloud. Support by the cloud is at $1,670. As long as price is above this level, bulls have the upper hand.