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Ichimoku cloud indicator analysis on Gold for August 26th, 2022.

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Gold price is under pressure. Price is around $1,747 but the kijun-sen (yellow line indicator) has moved higher and the tenkan-sen (red line indicator) is turning lower. A cross of the tenkan-sen below the kijun-sen would be a bearish signal. If price breaks again below and out of the cloud, we will have an even stronger bearish signal. Cloud support is at $1,740. Bears need to break below this level in order to continue their move lower towards $1,700. Bulls on the other hand need to break above $1,760 at least and then above $1,780.


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