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Ichimoku cloud indicator analysis on Gold for December 10, 2021.

Gold price is still below the Ichimoku cloud. In Ichimoku cloud terms trend is bearish. Price is challenging the lower cloud boundary resistance. It is important for bulls to see price break into and above the 4 hour cloud in order for the short-term trend to change.

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Gold price is below both the tenkan-sen and kijun-sen indicators. As we explained in our technical analysis, there are some signs that indicate a trend reversal is imminent. The Ichimoku cloud indicator will help us identify any trend change and confirm it. This will happen only if price breaks into the cloud and above it. Trend will change to neutral if price makes a 4 hour close above $1,781, and it will turn bullish if price breaks above $1,788. At current levels we continue to prefer to be neutral if not bullish. The downside potential is limited.The material has been provided by InstaForex Company - www.instaforex.com

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