Gold price is turning lower. Price has broken below the 4 hour tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). This is a sign of weakness. Price is vulnerable to a move lower towards $1,950.
Cloud support by the Kumo is at $1,950. The Chikou span (black line indicator) remains above the candlestick pattern but has a negative slope. Support is at $1,950. As long as price in the 4 hour chart is above the cloud, bulls are in control. Resistance is at $1,977. Bulls need to push price higher and above $1,977 in order to feel safe.
