Gold price is trading around $1,990, very close to recent highs. In Ichimoku cloud terms, trend remains bullish in the Daily chart with no sign of weakness. Price is well above the Kumo (cloud). Price has recently tested the tenkan-sen (red line indicator) successfully without breaking below it on a closing basis. The Chikou span (black line indicator) is above the candlestick pattern (bullish) and the Kumo. The kijun-sen (yellow line indicator) is providing support at $1.909. Price is currently mostly moving sideways near its highs. A daily close below the tenkan-sen at $1,980 will be a sign of weakness and could push price lower. Until then bulls remain in full control of the trend.
