empty
 
 
06.05.2022 03:43 PM
Ichimoku cloud indicator analysis on Gold for May 6, 2022.

Gold price is trading around $1,874. In Ichimoku cloud terms, trend remains bearish despite the recent bounce towards $1,906 area. Price remains below the Kumo (cloud) and the recent rejection when price tested the cloud, is another sign that bears remain in control of the trend.

This image is no longer relevant

Price recently tested the cloud resistance but bulls failed to enter the cloud. Price is under pressure below the Kumo. At $1,898 we find the current cloud resistance. Bulls need to break above this level in order to hope for a bigger reversal to the upside. Support remains at $1,860. Bulls need to defend this level.
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 $1000 more!
    In October we raffle $1000 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