XAU Trading Outlook (22-01-2016)

SPI 200‏ (ASX)‏ (H6) Intraday: continuation of the rebound.

Pivot: 4790

Our preference: long positions above 4790 with targets @ 4900 & 4950 in extension.

Alternative scenario: below 4790 look for further downside with 4720 & 4700 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
5000
4950
4900
4852 Last
4790
4720
4700

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