XAU Trading Outlook (25-01-2016)

SPI 200‏ (ASX)‏ (H6) Intraday: bullish bias above 4875.

Pivot: 4875

Our preference: long positions above 4875 with targets @ 4950 & 4990 in extension.

Alternative scenario: below 4875 look for further downside with 4825 & 4795 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
5040
4990
4950
4929 Last
4875
4825
4795

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