Ichimoku cloud indicator analysis on Gold for November 29, 2021.

Gold price is trading at $1,786. Gold price last week, pushed higher towards $1,815 as expected by our analysis. Gold price pulled back since then and we might be trading now at a new higher low above key cloud support.

Gold price is above the Ichimoku cloud which is found at $1,776. As long as this is the case, bulls have hopes of breaking above $1,815. Resistance by the kijun-sen (yellow line indicator) and the tenkn-sen (red line indicator) is at $1,817-$1,824 respectively. Bulls need to break above this resistance area. This will increase chances of price pushing above $1,876 recent high.The material has been provided by InstaForex Company - www.instaforex.com