FX.co ★ Ichimoku cloud indicator analysis on Gold for December 22, 2021.

In our last Ichimoku cloud analysis on Gold, we mentioned that Gold price was vulnerable to a move lower towards the kijun-sen at $1,783. Yesterday Gold price made a low at $1,784.

Gold price continues to trade above the 4 hour Ichimoku cloud. However price has broken below both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Resistance by these two indicators is at $1,792 and $1,797. Bulls need to break above these two resistance levels in order to produce a new bullish signal. Support remains key at $1,775 where we find the 4 hour Kumo.