Gold price is trading around $1,782 after getting rejected at the lower cloud boundary at $1,790. Gold bulls are not strong enough to keep price inside the cloud and change short-term trend. Price is now testing the $1,780 tenkan-sen (red line indicator) support.
Next support is found at $1,776 where we find the kijun-sen (yellow line indicator). Bulls need to break above $1,790 and stay above it in order to change short-term trend to neutral. Failure to hold above $1,775 will put price under pressure with increased chances of seeing price move lower towards $1,750. In Ichimoku cloud terms in the 4hour chart, trend remains bearish.
