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