Gold price yesterday was unable to close the daily candlestick inside the Kumo. Trend remains bearish. Today the price candlestick remains below the Daily Kumo (cloud). Gold price remains vulnerable to another move lower. The crossing of the tenkan-sen (red line indicator) below the kijun-sen (yellow line indicator) is a bearish sign. If price breaks below $1,715 we will get another bearish signal by the Chikou span (black line indicator). This will increase chances of seeing a test of $1,680. Bulls need to push price inside the Kumo and break above the kijun-sen resistance at $1,760. Until then we remain bearish.
