XAU Trading Outlook (06-01-2016)
SPI 200 (ASX) (H6) Intraday: the downside prevails
Pivot: 5190
Our preference: short positions below 5190 with targets @ 5100 & 5063 in extension.
Alternative scenario: above 5190 look for further upside with 5232 & 5270 as targets.
Comment: as long as 5190 is resistance, likely decline to 5100.
Supports and resistances:
5270
5232
5190
5147 Last
5100
5063
5040