XAU Trading Outlook (03-03-2016)
SPI 200 (ASX) (H6) Intraday: the upside prevails.
Pivot: 4950
Our preference: long positions above 4950 with targets @ 5045 & 5085 in extension.
Alternative scenario: below 4950 look for further downside with 4905 & 4845 as targets.
Comment: the RSI has just landed on its neutrality area at 50% and is turning up.
Supports and resistances:
5150
5085
5045
5028 Last
4950
4905
4845