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Ichimoku cloud indicator analysis of Gold for February 15, 2018

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Gold price reacted negatively after the CPI report yesterday, as Dollar strengthened, but very fast afterwards price reversed upwards and took back all its losses. Price was then trading at the $1,334 resistance are by our Kumo (cloud). As Dollar weakened, Gold price broke above next resistance at $1,344 and moved back above the $1,350 long-term resistance.

Ichimoku cloud indicator analysis of Gold for February 13, 2018

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Gold price remains in a bearish short-term trend as price is below the 4-hour Kumo (cloud) at $1,334-41. Price is bouncing to challenge cloud resistance. Bulls need to be cautious in case we see a rejection at $1,334. On the other hand, bears need to push price back below $1,321 as soon as possible.

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