Gold price is trading around $1,935. Gold price in the Daily chart remains in a bullish trend as price continues to stay above the Daily Kumo (cloud). Gold price is trading around the tenkan-sen (red line indicator) and if price $1,920, we should expect a move lower towards the cloud at $1,900.
The kijun-sen (yellow line indicator) is at $1,980 and this is important medium-term resistance. Bulls need to defend cloud support and push price higher. The Chikou span (black line indicator) is above the candlestick pattern testing key support. Overall, the Ichimoku cloud indicator favors the bullish side. This will hold as long as price does not break below $1,900.
