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Ichimoku cloud indicator analysis on Gold for April 7, 2022.

Gold price is trading around $1,931. Gold price is trading above the tenkan-sen (red line indicator) and is mostly moving sideways. Trend remains bullish in the Daily chart as price continues to stay above the Kumo (cloud).


The kijun-sen (yellow line indicator) is at $1,979. A daily close above the kijun-sen would provide a bullish signal. Support by the Kumo (cloud) is found at $1,900. Bulls do not want to see price break below this level. Instead bulls want to see price eventually break above the kijun-sen and then to see the tenkan-sen cross above the kijun-sen. That is why we keep a close eye on the $1,900 support level and at the $1,979 resistance.

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