XAU Trading Outlook (24-02-2016)
SPI 200 (ASX) (H6) Intraday: the downside prevails.
Pivot: 4930
Our preference: short positions below 4930 with targets @ 4820 & 4775 in extension.
Alternative scenario: above 4930 look for further upside with 4970 & 5010 as targets.
Comment: the RSI is badly directed.
Supports and resistances:
5010
4970
4930
4865 Last
4820
4775
4730