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22.03.2022 02:48 PM
Ichimoku cloud indicator analysis on Gold for March 22, 2022.

Gold price is trading around $1,925. Price has made no real progress over the last couple of days. Although price is above the cloud and trend remains bullish, there are some worrying signs for bulls.

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Gold price is below both the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). Today the tenkan-sen is crossing below the kijun-sen and this is a warning signal. This is a signal that tells us that price remains vulnerable to a move lower towards the Daily Kumo (cloud). Support is found at $1,870-$1,950. As long as price is below the tenkan-sen and the kijun-sen we remain pessimistic. Resistance is at $1,950-60.
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