Ichimoku cloud indicator analysis of Gold for September 10, 2018

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The Gold remains under pressure and below $1,200. Next time it makes a move above it could be the start of the bounce towards $1,220 we have been waiting. Until then we remain neutral as Gold could continue lower towards the August lows or sideways.

Ichimoku cloud indicator analysis of Gold for September 10, 2018

Blue line - short-term resistnace

The Gold's trend remains bearish as price is still below the Daily Kumo (cloud). There is a good chance we see Gold towards $1,220-30 if we break above $1,206. On the other hand, if prices fail to hold above $1,190-80 area we should expect Gold to make new lows towards $1,140-$1,110.