XAU Trading Outlook (01-02-2016)
SPI 200 (ASX) (H6) Intraday: the upside prevails.
Pivot: 4945
Our preference: long positions above 4945 with targets @ 5040 & 5080 in extension.
Alternative scenario: below 4945 look for further downside with 4890 & 4850 as targets.
Comment: the RSI is supported by a rising trend line.
Supports and resistances:
5130
5080
5040
5002 Last
4945
4890
4850