Ichimoku cloud indicator analysis on Gold for October 5, 2021.

Gold price is showing signs of a possible reversal. Price has briefly pushed above the 4 hour Ichimoku cloud and remains steadily above the kijun-sen (yellow line indicator). If bulls manage to hold their ground to gather strength, then we could see another move higher towards $1,800.

Gold price is currently above the Kumo but the candle has not closed yet. Price is above the kijun-sen and the tenkan-sen which is a positive sign for the trend. The Chikou span is above the candlestick pattern and below the cloud. Breaking above $1,770 will be a sign of strength and a bullish sign for the coming sessions. Inability to hold above $1,745 will be a bearish signal.The material has been provided by InstaForex Company - www.instaforex.com