XAU Trading Outlook (26-01-2016)
S&P 500 (CME) (H5) Intraday: the downside prevails.
Pivot: 2054
Our preference: Short positions below 2054 with targets @ 2036 & 2027 in extension.
Alternative scenario: Above 2054 look for further upside with 2065 & 2082 as targets.
Comment: As long as 2054 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
2082 ***
2065 *
2054 ***
2044 Last
2036 ***
2027 **
2020 **
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