Gold price is bouncing higher above yesterday's highs. In Ichimoku cloud terms trend remains bearish as price is below the Kumo (cloud). Price is now breaking above the tenkan-sen (red line indicator). The kijun-sen (yellow line indicator) is at $1,671 where we also find the lower cloud boundary. Current price action justifies a move towards the resistance of $1,670. So far there is no sign of a reversal according to the Ichimoku cloud indicator. The only indication we have is of a possible bigger bounce towards cloud resistance.
