empty
 
 
18.01.2023 04:22 PM
Ichimoku cloud indicator analysis on Gold for January 18th, 2023.

This image is no longer relevant

Gold price tested the kijun-sen (yellow line indicator) support earlier and is now bouncing strongly. Price is at $1,922 still in bullish trend as price remains above the Kumo (cloud). Support by the tenkan-sen (red line indicator) is at $1,910 and by the kijun-sen at $1,901. In our previous analysis we noted that key support was at $1,897 and $1,885. Today's pull back did not break this support level. Short-term trend remains in full control by the bulls. No sign of reversal yet. Today's low is now a very important support level that bulls need to defend. A break below today's low at $1,896 would be a sign of weakness and would lead price at least towards the Kumo at $1,875.

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 $8000 more!
    In March we raffle $8000 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