FX.co ★ Ichimoku cloud indicator analysis on Gold for week ending March 24th 2023.

Gold price ended the week lower than the previous week and about the same level where it opened. Price made a new higher high but bulls were not strong enough to hold above $1,990. Short-term trend remains bullish. Gold price continues trading above the Daily Kumo (cloud). Gold price has support by the tenkan-sen (Red line indicator) at $1,947. Price could pull back towards the tenkan-sen. A deeper pull back should be expected if we break below the tenkan-sen and the kijun-sen (yellow line indicator) at $1,906.