Ichimoku indicator analysis of gold for May 9, 2017

GOLD price is trading around $1,220-$1,210 support area and the downside is limited currently. Price is expected to make a strong move higher at least towards $1,260. Blue lines – bearish channel Gold price is trading below the 4-hour Kumo (cloud) and has short-term resistance at $1,237 and next at $1,260. Trend is still bearish. […]