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02.03.202318:19 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for March 2nd, 2023.

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Gold price is trading around $1,836. In Ichimoku cloud terms the 4 hour chart shows Gold in neutral trend as price is inside the Kumo (cloud). Gold price is trading above the kijun-sen (yellow line indicator) that provides support at $1,824. At the same price level we also find support by the Kumo (cloud). The tenkan-sen (red line indicator) is above the current price and provides resistance at $1,837. The upper cloud boundary is at $1,843.50. Bulls want to recapture this resistance level and stay above the cloud. Gold is trading close to important resistance now. Traders need to be very cautious.

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