FX.co ★ Gold analysis for February 15, 2017

Recently, gold has been trading sideways at the price of $1,225.50. According to the 30M time frame, I found hidden bullish divergence in creation on the moving average oscillator, which is a sign that sellers lost power. I found potential parabolic bottom formation, which is a very strong type of bottoming. My advice is to watch for potential buying opportunities. Targets are set at the price of $1,234.50 and $1,244.00.

Fibonacci pivot points:

Resistance levels:

R1: 1,230.85

R2: 1,233.50

R3: 1,237.90

Support levels:

S1: 1,222.10

S2: 1,219.45

S3: 1,215.75

Trading recommendations for today: watch for potential buying opportunities.