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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



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Ichimoku cloud indicator analysis of Gold for July 15, 2021

Gold price is in a short-term bullish trend according to the Ichimoku cloud indicator. Gold price is trading around $1,830 and has the potential to move higher towards our $1,855 target as we explained in previous posts.


Gold price is trading above both the tenkan-sen and the kijun-sen indicators confirming short-term bullish trend. Support by the tenkan-sen is at $1,823 and by the kijun-sen at $1,812. The most important support is the 4 hour cloud and we find it at $1800-$1,805. What was once resistance is now support. The Chikou span is above the candlestick pattern. Recently the tenkan-sen crossed above the kijun-sen and this was a bullish signal. Short-term trend remains under the control of bulls.The material has been provided by InstaForex Company -