Gold price is trading around $1,780-90. Gold made a low at $1,779 after making a high at $1,809. Gold price got rejected at the cloud resistance. Gold price respects so far the tenkan-sen (red line indicator). Gold bulls want to see price break inside and above the cloud in order for trend to change to bullish in ichimoku cloud terms.
The tenkan-sen (red line indicator) support is at $1,789. A daily close below this level will open the way for a deeper pull back towards the kijun-sen (yellow line indicator) at $1,758. Cloud resistance is found at $1,809. Bulls need to break above this level. Entering the cloud will change trend to neutral. Breaking above it will change it to bullish.
