FX.co ★ Gold analysis for February 22, 2017

Recently, the Goldpair has been trading sideways at the price of $1,237.00. According to the 15M time frame, I found broken bullish flag and hidden bullish divergence in the background, which is sign that selling looks risky. My advice is to watch for potential buying opportunties. Upward targets are set at the price of $1,241.30 and $1,246.00 (Fibonacci expansio 100%).

Resistance levels:

R1: $1,237.80

R2: $1,240.00

R3: $1,243.50

Support levels:

S1: $1,230.80

S2: $1,228.60

S3: $1,225.00

Trading recommendations for today: watch for potential buying opportunities.