Ichimoku cloud indicator analysis on Gold for January 20th, 2023.

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Gold price is trading around $1,927. Price continues to respect the cloud support and remains in a bullish trend in the 4 hour chart. Support by the tenkan-sen (red line indicator) is at $1,921 and by the kijun-sen (yellow line indicator) at $1,916. So far bulls remain in full control of the trend. Even at the end of the week we see no profit taking by bulls despite trading the 5th consecutive positive week for Gold. As long as price is above $1,890-$1,900 short-term trend remains bullish.

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