Relevance up to 15:00 2022-06-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Gold price is bouncing higher today towards $1,830. Price remains below key Ichimoku cloud indicators confirming that we remain in a bearish trend. Resistance by the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) remain at $1,835-41 area. As long as price is below this level Gold is vulnerable to more downside. Support remains intact at $1,800-$1,790. So far Gold continues to trade inside the trading range of $1,800-$1,850 with no clear direction.The Chikou span (black line indicator) remains below the candlestick pattern. This is another sign that Gold price is vulnerable to another downward move.
