Ichimoku cloud indicator Daily analysis of Gold

Gold price remains in a bullish trend according to the Ichimoku cloud indicator. Price only managed to pull back towards the Daily Kijun-sen indicator and now it is trading again above both the kijun- and the tenkan-sen.

Price is above the Kumo (cloud). The Chikou span is well above the cloud and the candlestick formation. The tenkan-sen (Red line indicator) is above the kijun-sen (green line indicator) and price is above both. All these are bullish confirmations. Support is at $1,552-$1,540. Next support at $1,486 and rising. As we explained in previous posts, Gold price recapturing $1,565 is important as this would increase chances of a move to $1,600 and higher.The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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