Ichimoku cloud indicator analysis on Gold for October 12, 2021.

Gold price is trading around $1,760. Another trading session where price continues to trade below the $1,770 resistance and above $1,745 support. In Ichimoku cloud terms Gold price is in bullish chart according to the 4 hour candlesticks.Gold price is above the Kumo. The kijun-sen is above the tenkan-sen. This needs to change for Gold price to continue higher. The kijun-sen needs to be below the tenkan-sen. A crossing of the tenkan-sen above the kijun-sen would be an important bullish signal. Until then bulls need to defend the Kumo (cloud) support.The material has been provided by InstaForex Company - www.instaforex.com

Ichimoku cloud indicator analysis on Gold for October 12, 2021.

Gold price is trading around $1,760. Another trading session where price continues to trade below the $1,770 resistance and above $1,745 support. In Ichimoku cloud terms Gold price is in bullish chart according to the 4 hour candlesticks.

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Gold price is above the Kumo. The kijun-sen is above the tenkan-sen. This needs to change for Gold price to continue higher. The kijun-sen needs to be below the tenkan-sen. A crossing of the tenkan-sen above the kijun-sen would be an important bullish signal. Until then bulls need to defend the Kumo (cloud) support.

The material has been provided by InstaForex Company - www.instaforex.com