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

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