Gold price is in a neutral short-term trend as price is trading inside the 4 hour Kumo (cloud). So far cloud support has been held and bulls continue to have hopes for a move higher. Recent low at $1,773 is a key support that bulls must defend. The tenkan-sen (red line indicator) provide resistance at $1,785. The upper cloud boundary is at $1,791 and the kijun-sen (yellow line indicator) is at $1,798. These are the key resistance levels. The Chikou span (black line indicator) is below the candlestick pattern (bearish). Current price action according to the Ichimoku cloud indicator suggests that price remains vulnerable to more downside.
