Gold price is trading below $1,850. In the 4 hour chart according to the Ichimoku cloud indicator, trend is bullish as price is above the Kumo (cloud), but it is also vulnerable to more downside as it has broken below the tenakn-sen (red line indicator) and the kijun-sen (yellow line indicator).
Resistance by the kijun-sen and tenkan-sen is at $1,851. Price is vulnerable to a test of the cloud support at $1,825. As long as price is below $1,851, Gold will be vulnerable to a move lower. Bulls need to defend $1,825 as a break below this level would be a bearish signal. Bulls need to hold price above the cloud. If bulls manage to recapture $1,851, then that would be a good sign for them also. Until then the most probable scenario is for Gold to slide lower towards $1,825.
