Gold price is trading around $1,980. According to the Ichimoku cloud indicator trend remains bearish as price is still below the Kumo (cloud). Price got rejected at the cloud resistance of $1,997 and this is a bearish sign. Price is trading below both the tenkan-sen and kijun-sen indicators. The Chikou span (black line indicator) is below the candlestick pattern (bearish). Gold price remains vulnerable to a move lower. Support is found at recent lows of $1,968 and a break below this level will open the way for a bigger decline towards $1,920. We remain bearish Gold as long as price is below the cloud.
