FX.co ★ Ichimoku cloud indicator analysis on Gold for November 24th, 2023.

Gold price is trading once again around $2,000. Short-term trend remains bullish as price is still above the Kumo (cloud) support. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). Price is still above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The tenkan-sen provides support at $1,996 and the kijun-sen at $1,985. The most important indicator is the kijun-sen. Failure to hold above it will lead price towards the upper cloud boundary at $1,976. Bulls remain in control of the trend.