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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.¡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.