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Gold price managed yesterday to break above the Daily Ichimoku cloud. Today we have a back test. Our short-term bullish target has been achieved. However in order for the bullish trend to continue, bulls will need to keep price above the Kumo and not break below $1,850.
Gold price is trading right on top of the upper cloud boundary. This is now support. Entering the cloud will turn trend neutral. Support is next at $1,850-41. Breaking below this level will increase the chances of making new short-term lows below $1,809. Next key resistance is at $1,884. We keep a close eye on the Gold price over the next few sessions to see how it reacts around the Kumo (cloud).InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.