FX.co ★ Ichimoku cloud indicator analysis on Gold for January 16th, 2023.

Gold price remains in a bullish trend as price continues trading above the 4 hour Kumo. Price continues making higher highs and higher lows. Gold price has not given any sign of weakness. Price continues to respect the kijun-sen (yellow line indicator). Support by the kijun-sen is at $1,897. Earlier today price pulled back and tested the tenkan-sen (red line indicator) support at $1,910. A break below this level will push price towards the kijun-sen at $1,897. At $1,863 we find the Kumo (cloud) support. This is the most important support level. As long as we trade above it, trend remains bullish.