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Ichimoku Indicator

22.03.202214:48 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for March 22, 2022.

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Gold price is trading around $1,925. Price has made no real progress over the last couple of days. Although price is above the cloud and trend remains bullish, there are some worrying signs for bulls.

Gold price is below both the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). Today the tenkan-sen is crossing below the kijun-sen and this is a warning signal. This is a signal that tells us that price remains vulnerable to a move lower towards the Daily Kumo (cloud). Support is found at $1,870-$1,950. As long as price is below the tenkan-sen and the kijun-sen we remain pessimistic. Resistance is at $1,950-60.

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