Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

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Ichimoku cloud indicator analysis on Gold for July 24th, 2023.

12:52 2023-07-24 UTC--5

Gold price is trading around $1,958. According to the Ichimoku cloud indicator, trend remains bearish as price is still below the Kumo (cloud). Price is now challenging the tenkan-sen (Red line indicator) that provides short-term support around $1,957. As long as price is below the cloud, Gold is vulnerable to a move lower at least towards the kijun-sen (yellow line indicator) at $1,939. Bulls need to defend $1,940 and eventually break above the cloud in order to reclaim control of the trend. For this to happen, price must break above $2,002. First step would be for price to re-enter the cloud and stay above the tenkan-sen and the kijun-sen. The Chikou span (black line indicator) is below the candlestick pattern (bearish).

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Stock market analytics, financial forecasts

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