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03.03.2022 03:18 PM
Ichimoku cloud indicator analysis on Gold for March 3, 2022.

Gold price continues to trade above the Ichimoku cloud in the 4 hour chart. Short-term trend remains bullish. So far price has tested the cloud support several times and bulls have managed to keep price above it.

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Gold price is also above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). This is another sign confirming bullish trend. Support by the cloud is at $1,925-$1,908. As long as price is above this area, bulls continue to hope for a move to new highs. The Chikou span (black line indicator)is above the candlestick supporting the bullish trend. No sign of weakness according to the Ichimoku cloud indicator.

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