XAU Trading Outlook (11-02-2016)
SPI 200 (ASX) (H6) Intraday: the downside prevails.
Pivot: 4800
Our preference: short @ 4719 with targets @ 4640 & 4600 in extension.
Alternative scenario: above 4800 look for further upside with 4870 & 4930 as targets.
Comment: the RSI lacks upward momentum.
Supports and resistances:
4930
4870
4800
4760 Last
4640
4600
4550
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