XAU Trading Outlook (07-01-2016)

SPI 200‏ (ASX)‏ (H6) Intraday: the downside prevails

Pivot: 5135

Our preference: short positions below 5135 with targets @ 5040 & 5010 in extension.

Alternative scenario: above 5135 look for further upside with 5190 & 5232 as targets.

Comment: as long as the resistance at 5135 is not surpassed, the risk of the break below 5040 remains high.

Supports and resistances:
5232
5190
5135
5077 Last
5040
5010
4970

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