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Gold price has broken above the short-term Ichimoku cloud resistance. Price has now provided a bullish signal and after the break out we could expect a back test to be performed before the up trend continues.
Gold price is trading above the Ichimoku cloud. This is a bullish sign. Usually after such break outs we see price pull back and test the upper cloud boundary. At the upper cloud boundary we also find the kijun-sen (yellow line indicator) at $1,811. A pull back towards that level as a back test is justified but not necessary. Bulls do not want to see price break below $1,811 and stay below this level. Bulls want to see price make another higher low and then break above $1,834 for a move towards $1,880-90. We remain bullish as long as price is above $1,790.¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.