Analysis of Gold for February 23, 2018

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Recently, gold has been trading sideways at the price of $1,328.20. According to the 30M time frame, I found that the price is trading in the range between the support of $1,322.00 and the resistance $1,332.00. Gold is in the downward trend and my advice is to watch for selling opportunities with a potential target at $1,322.00 (support).

Resistance levels:

R1: $1,335.80

R2: $1,339.55

R3: $1,346.95

Support levels:

S1: $1,324.60

S2: $1,317.20

S3: $1,313.45

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com