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Ichimoku Indicator

27.05.202215:49 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for May 27, 2022.

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Gold bulls have managed to recapture the $1,850 level and price is once again above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Gold price remains in a bullish trend according to the Ichimoku cloud indicator.

The kijun-sen has crossed above the tenkan-sen. Bulls want the tenkan-sen to cross again above the kijun-sen in order to get a stronger upward moementum. The Chikou span (black line indicator) is above the candlestick pattern confirming that bulls remain in control of the short-term trend. If price fails to hold above $1,850 once again, then we should expect price to test $1,840 very fast.

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