Gold price is trading above $1,800, around $1,806. Price remains in a short-term bullish trend making higher highs and higher lows since the $1,752 lows and reversal day back on December 15th. Gold price is also in a bullish short-term trend according to the Ichimoku cloud indicator.
Gold price in the 4 hour chart is trading above the Kumo (cloud). Price is also above the kijun-sen (yellow line indicator) which is key short-term support at $1,797. The Chikou span (black line indicator) is above the candlestick pattern which also supports the fact that short-term trend is bullish. Bulls do not want to see price break below the cloud support. Resistance is at $1,814 and a break above it will open the way for a move higher towards $1,830.The material has been provided by InstaForex Company – www.instaforex.com