FX.co ★ Daily analysis of Gold for February 22, 2017

Overview

The gold price shows positive attempts now approaching 1,239.00 levels. The price needs to breach this level to confirm the continuation of the bullish trend in the upcoming period, leaning on the EMA50, and its next target located at 1,249.94. Therefore, our bullish trend expectations will remain valid for the rest of the day conditioned by holding above 1,232.00 and the most important above 1,221.00, reminding you that a breach of the 1,249.94 level will extend gold gains to 1,270.00 as the next main station. The expected trading range for today is between the 1,221.00 support and the 1,250.00 resistance.