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Gold price remains in a bearish short-term trend according to the Ichimoku cloud indicator in the 4 hour chart. Price is below the cloud and bulls will need to break above $1,815 in order to change short-term trend to bullish.
Gold price is above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) in the 4 hour chart. This gives bulls some hopes for a reversal, but confirmation will come when price at least breaks into the cloud. This means that bulls will need to push price above $1,790. Until then, price is vulnerable to more downside.InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.