empty
 
 
08.01.2022 12:26 AM
Ichimoku cloud indicator analysis on Gold for January 7, 2022.

Gold price made a low today around $1,782 right on top of the horizontal support. The week ended at $1,795 having broken below the weekly Kumo (cloud). On a 4 hour basis trend remains bearish as price continues to trade below the Kumo (cloud).

This image is no longer relevant

Gold price closed today above the 4 hour tenkan-sen (red line indicator) providing a sign of strength, implying that next week could start with Gold moving higher. Next short-term resistance for Gold is at $1,805 (kijun-sen) and at $1,807 (Kumo). Bulls need to break above these resistance levels in order to regain control of the short-term trend. $1,782 remains key support and key recent lows. Failure to stay above these levels, will lead Gold towards $1,750.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback