XAU Trading Outlook (29-01-2016)

Gold spot Intraday: under pressure.

Pivot: 1123

Our preference: short positions below 1123 with targets @ 1109.5 & 1104.5 in extension.

Alternative scenario: above 1123 look for further upside with 1128 & 1132 as targets.

Comment: the RSI advocates for further downside.

Supports and resistances:
1132
1128
1123
1115 Last
1109.5
1104.5
1099

Ticker : GOLDS
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