FX.co ★ Bullish signal by Ichimoku indicator in Gold.

Gold price is trading steadily above $1,950. Price continues to respect the cloud support and is moving higher. Bulls are in control of the trend. An important sign of strength is found in the Daily chart using the Ichimoku cloud indicator.

With Gold price above the Kumo (cloud), the tenkan-sen (red line indicator) is crossing above the kijun-sen (yellow line indicator). This is a bullish sign. Support by the cloud is found at $1,950 and next support is at $1,924. As long as price is above this area, bulls have nothing to fear. The kijun-sen is found at $1,944 and will soon start turning upwards. It is important for the kijun-sen to keep a positive upward slop and for price to not break below it.