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Ichimoku Indicator

07.12.202117:52 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for December 7, 2021.

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Gold price remains in a bearish short-term trend according to the Ichimoku cloud indicator in the 4 hour chart. Price is below the cloud and bulls will need to break above $1,815 in order to change short-term trend to bullish.

Gold price is above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) in the 4 hour chart. This gives bulls some hopes for a reversal, but confirmation will come when price at least breaks into the cloud. This means that bulls will need to push price above $1,790. Until then, price is vulnerable to more downside.

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