Gold price is trading above $1,850. According to the Ichimoku cloud indicator trend in the 4 hour chart remains bullish as price is above the Kumo (cloud). However the entire picture is not ideal for bulls as price is vulnerable to another move lower towards cloud support.
Gold price is challenging the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator) at $1,853-54. Failure to stay above this level, will most probably push price lower towards the upper boundary of the Kumo at $1,844. If bulls manage to hold above the $1,853 level and break above recent highs of $1,863, then we should expect Gold to continue higher towards $1,900.
