Ichimoku cloud indicator analysis of Gold for April 11, 2018

Gold price continues to make higher highs and higher lows. Price has broken out of the cloud resistance and above the trend line resistance at $1,343. So far, bulls remain in control of the short-term trend.

Black line - resistance

In the daily chart, Gold price is above the Ichimoku cloud. Trend is bullish. Cloud support is at $1,326. As long as the price is above $1,326, bulls will remain in control. Important resistance is at $1,345-53. A rejection at that area will certainly bring the price back to $1,330-25.

The material has been provided by InstaForex Company - www.instaforex.com