Gold price remains in a bullish trend according to the Ichimoku cloud indicator in the 4 hour chart. Price is bouncing off the cloud support and this is good news. Today price has reached the short-term resistance of the kijun-sen at $1,925. In order to resume the uptrend bulls will need to recapture $1,925.
Price is testing the kijun-sen (yellow line indicator) and it is imperative for bulls to break above it. Support by the tenkan-sen (red line indicator) is at $1,908 and below that is the cloud at $1,896. Bulls do not want to see price fall towards those levels again as this will make price even more vulnerable to a move below $1,880. Short-term trend remains in control of the bulls.
