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Ichimoku Indicator

08.09.202112:20 Forex Analysis & Reviews: Ichimoku cloud indicator analysis of Gold for September 8, 2021.

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Gold price has provided another bearish signal today according to the Ichimoku cloud indicator. Price has broken below $1,800 and is now trading below both the daily and 4 hour clouds. This is a sign of weakness and unless bulls manage to recapture $1,810 at least, they will be in trouble.

Gold price is below the Daily Kumo (cloud). Support is now at the kijun-sen at $1,760. Resistance by the cloud and the tenkan-sen is at $1,800-$1,810. Bulls need to break above this level in order for trend to change to neutral. Only a break above $1,833 would be a bullish sign for Gold. Gold is vulnerable to a move lower as long as price is below the $1,800-$1,810 resistance area.

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