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31.01.2023 04:09 PM
Ichimoku cloud indicator analysis on Gold for January 31st, 2023.

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Gold price is trading around $1,910. Price made a low earlier today at $1,900. As we mentioned in previous posts, key support for the shor-term trend is found at $1,920-$1,900.Gold price is challenging this important support today. In the 4 hour chart price briefly moved below the Kumo (cloud) but is now bouncing back inside it. Resistance is at $1,925 and as long as price is below this level, Gold will remain vulnerable to a move even lower. A break below $1,900 would be a new bearish sign.

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