XAU Trading Outlook (24-03-2016)

SPI 200‏ (ASX)‏ (M6) Intraday: the downside prevails.

Pivot: 5150

Our preference: short positions below 5150 with targets @ 5065 & 5045 in extension.

Alternative scenario: above 5150 look for further upside with 5167 & 5183 as targets.

Comment: the RSI has broken down its 30 level. The index has broken below the lower boundary of a bearish channel.

Supports and resistances:
5183
5167
5150
5078 Last
5065
5045
5010

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