empty
 
 
21.11.2022 03:03 PM
Ichimoku cloud indicator analysis on Gold for November 21st, 2022.

This image is no longer relevant

Gold is trading around $1,740. In our previous analysis we warned traders that Gold price was vulnerable to a pull back. In our analysis we warned that as long as price is below the kijun-sen (yellow line indicator) price was vulnerable to a move towards the upper cloud boundary. Short-term trend is turning to neutral from bullish as price remains inside the Kumo (cloud). Resistance by the tenkan-sen (red line indicator) is at $1,751. There we also find the upper cloud boundary. In order for the short-term up trend to resume, bulls will need to push price above this level. The kijun-sen provides resistance at $1,761 and remains above the tenkan-sen (bearish). The Chikou span (black line indicator) has broken below the candlestick pattern (bearish) and is negatively sloped. Gold is vulnerable to a move towards $1,720-$1,700 as long as price is below $1,760.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback