Gold price continues to trade sideways between $1,195 and $1,177. Support was tested yesterday and held, but bulls could not break resistance. The strong Dollar remains the biggest influence so far to the downside for Gold.
Green line - short-term support
Gold price is trading around the 4 hour kijun- and tenkan-sen indicators (yellow and red lines). Price is below the Ichimoku cloud confirming bearish trend. Only a break above $1,220 will change short- and medium-term trend.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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