FX.co ★ Weekly Ichimoku cloud indicator analysis on Gold.

Gold price closed the week near the weekly low of $1,852. The weekly candlestick has a long upper tail. This is a sign of weakness. In Ichimoku cloud terms weekly trend has turned to neutral as price has entered the Kumo (cloud). This week price also closed the below the tenkan-sen (red line indicator). This is another sign of weakness. Next weekly support is the lower cloud boundary at $1,827. As long as price is below $1,875, Gold price is vulnerable of testing the kijun-sen (yellow line indicator) at $1,786. On a weekly basis Gold price is vulnerable to more downside.