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Ichimoku Indicator

28.08.202021:06 Forex Analysis & Reviews: Short-term Ichimoku cloud indicator analysis of Gold for August 28, 2020

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At the end of the week we find Gold price near its week highs and yet again above the weekly tenkan-sen indicator indicating short-term trend remains bullish and buyers continue to have enough power to support the pull backs.

On a weekly basis gold price has challenged the tenkan-sen (red line indicator) and is bouncing off of it. This is a bullish sign. A weekly close below $1,900 would imply more weakness will follow. Until then short-term trend is bullish.

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