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Ichimoku Indicator

30.11.202322:52 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for November 30th, 2023.

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Gold price is trading around $2,034. Short-term trend according to the Ichimoku cloud indicator in the Daily chart remains bullish. Price is well above the Kumo (cloud) and so far there is no sign of a reversal. Price is also above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). These two indicators provide support at $2,008 and at $1,985. The Chikou span (black line indicator) is above the candlestick pattern (bullish). Today Gold price is in negative territory. Despite the pull back, short-term trend has not changed. On the contrary bulls want to see price pull back and form a higher low respecting the kijun-sen and most importantly staying above the Kumo (cloud).

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