FX.co ★ Ichimoku cloud indicator analysis on Gold for June 26th, 2023.

Gold remains in a bearish trend according to the Ichimoku cloud indicator in the 4h chart. Price is below the Kumo but there are some hopes for bulls. Price has pushed above the tenkan-sen (red line indicator) and is now challenging the kijun-sen (yellow line indicator). The kijun-sen provides resistance at $1,933. A 4h candlestick close above $1,933 will open the way for a move higher towards the lower cloud boundary close to $1,945. The Chikou span (black line indicator) is below the candlestick pattern (bearish). Bears remain in control of the short-term trend but there are some signs of a potential continuation of the bounce.