FX.co ★ Ichimoku cloud indicator analysis on Gold for April 26, 2022.

Gold price is in a short-term bearish trend according to the Ichimoku cloud indicator in the 4 hour chart. Price is well below the Kumo (cloud) and below both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator).

In the 4 hour chart Gold price provided a bearish signal when price broke below $1,946. The tenkan-sen and kijun-sen are negatively sloped and above price. Current market conditions confirm that bears are in control of the short-term trend. Resistance is at $1,925. This was previously support as we explained in our technical analysis. Bulls need to recapture this level in order to hope for a move higher. Until then Gold price remains vulnerable to more downside.