Ichimoku cloud indicator analysis on Gold for August 5, 2021.

Gold price is still trading above $1,800 and below the key resistance of $1,833. Price is vulnerable to a move lower as it exits out and below the Daily Ichimoku cloud.

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Gold price is trading inside the Ichimoku cloud in the Daily chart. Price is challenging the lower cloud boundary which is key support. A break below $1,800 will be a sign of weakness according to the Ichimoku cloud indicator. For a bullish signal to be given, price will need to break above $1,833. Until then price is vulnerable to a move lower. Next support is at $1,790 and next at $1,746. If Gold price breaks above $1,833 we will have an important bullish signal.The material has been provided by InstaForex Company - www.instaforex.com

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