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Ichimoku Indicator

14.04.202217:13 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for April 14, 2022.

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Gold price is pulling back today but price remains above the cloud support. Price is now also above the kijun-sen (yellow line indicator). This is a positive sign. Bulls need to defend the cloud support in order for Gold to gather momentum for the next leg higher.

Support by the upper cloud boundary is found at $1,952. As long as price is above this level, bulls are in control of the trend according to the Ichimoku cloud indicator. A pull back and test of the upper cloud boundary is justified and something bulls want. Why? Because a higher low will help them gather momentum for the next leg higher.

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