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Ichimoku Indicator

26.01.202315:42 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for January 26th, 2023.

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Gold price made a new higher high earlier today at $1,948. The RSI continues to provide bearish divergence signals, but price continues making higher lows. Price remains above the 4 hour Kumo (cloud) which means bulls are still in control of the trend. Another pull back towards the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) is in play. Support by these two indicators is at $1,934-29. The Kumo is now at $1,915-$1,900. As long as price is above this support area, price is supported. A break below the Kumo would be a bearish signal in for the short-term.

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