XAU Trading Outlook (19-02-2016)
SPI 200 (ASX) (H6) Intraday: the upside prevails.
Pivot: 4880
Our preference: long positions above 4880 with targets @ 4950 & 4975 in extension.
Alternative scenario: below 4880 look for further downside with 4820 & 4770 as targets.
Comment: the RSI lacks downward momentum.
Supports and resistances:
5000
4975
4950
4925 Last
4880
4820
4770