XAU Trading Outlook (21-03-2016)
SPI 200 (ASX) (M6) Intraday: the bias remains bullish.
Pivot: 5140
Our preference: long positions above 5140 with targets @ 5214 & 5240 in extension.
Alternative scenario: below 5140 look for further downside with 5120 & 5085 as targets.
Comment: a support base at 5140 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
5265
5240
5214
5163 Last
5140
5120
5085