Gold price is trading around $1,727 where we find the first support by the tenkan-sen Daily indicator. Key support remains at $1,710-$1,700 area where we find the kijun-sen and the broken downward sloping resistance trend line.
Gold price is back testing the Ichimoku cloud indicators and the broken trend line resistance. Inability to hold above $1,710-$1,700 will open the way for a push towards $1,650-30. Price remains above the kijun-sen. As we explained in previous posts, Gold price might be still in a daily up trend, technicals however show us that price is vulnerable at the area of $1,750-70.
