13.06.202314:15 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for June 13th, 2023.

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Gold price is still in a neutral trend according to the Ichimoku cloud indicator. Price remains inside the Daily Kumo (cloud). Price is trading marginally below the tenkan-sen (red line indicator). The kijun-sen (yellow line indicator) provides resistance at $1,989. Trend will change to bullish if price breaks out and above the cloud. Cloud resistance is at $2,020. As long as price remains below the tenkan-sen, Gold will remain vulnerable to a move lower towards the lower cloud boundary and key short-term support at $1,942. The Chikou span (black line indicator) remains below the candlestick pattern (bearish).

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