27.02.202323:38 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for February 27th, 2023.

In Ichimoku cloud terms Gold price remains in a bearish trend. Price is trading around $1,816 while price has just pushed above the tenkan-sen (red line indicator) at $1,814. This is a small sign of strength pointing to a potential bigger bounce higher. Bears remain in control of the short-term trend. The kijun-sen (yellow line indicator) provides resistance at $1,825 and if broken we should expect the lower cloud boundary at $1,835 to be tested. The Chikou span (black line indicator) remains below the candlestick pattern confirming bearish trend. Gold price has potential to bounce higher. In order to call a trend change, we will need to see Gold price push above the Kumo at $1,844.