XAU Trading Outlook (20-01-2016)
SPI 200 (ASX) (H6) Intraday: bullish bias above 4770.
Pivot: 4770
Our preference: long positions above 4770 with targets @ 4880 & 4910 in extension.
Alternative scenario: below 4770 look for further downside with 4700 & 4650 as targets.
Comment: the RSI is mixed with a bullish bias.
Supports and resistances:
4945
4910
4880
4841 Last
4770
4700
4650