FX.co ★ Ichimoku cloud indicator analysis on Gold for April 20, 2022.

Gold price pulled back today as expected and as we warned bulls it would. Price had broken the short-term support indicators (tenkan-sen and kijun-sen). Price reached as low as $1,938 earlier today.

In the 4 hour chart we showed in our previous analysis, Gold had broken short-term support levels and was heading towards the $1,950 level which was our first pull back target. In the Daily chart Gold continues to trade above the kijun-sen (yellow line indicator). Price has entered the Kumo (cloud). Trend has chanced to neutral in the Daily chart. Bulls need to push price back above the cloud in order to regain control of the trend. Resistance is at $1,965.