XAU Trading Outlook (28-01-2016)

S&P 500‏ (CME)‏ (H6) Intraday: bullish bias above 1851.

Pivot: 1851

Our preference: long positions above 1851 with targets @ 1907 & 1918 in extension.

Alternative scenario: below 1851 look for further downside with 1836 & 1818 as targets.

Comment: the RSI is mixed to bullish. Significant support rests at the 1851 level.

Supports and resistances:
1927 **
1918 **
1907 ***
1872 Last
1851 ***
1836 **
1818 **

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