FX.co ★ Ichimoku cloud indicator analysis on Gold for November 30th, 2022.

Gold price is trading around $1,763 and is showing signs of strength. Price is breaking above the Ichimoku cloud (Kumo). The tenkan-sen (red line indicator) is crossing above the kijun-sen (yellow line indicator) and this is another sign of strength. Staying above the Kumo is key for the short-term trend. Bulls seem to have the upper hand as price exits above the cloud. The Chikou span (black line indicator) is also above the candlestick pattern (bullish). The tenkan-sen and kijun-sen are below price providing support at $1,751-54. Gold price has the potential to make another move towards $1,800-$1,820 as long as price holds above $1,750-40 support.