XAU Trading Outlook (29-03-2016)
SPI 200 (ASX) (M6) Intraday: the downside prevails.
Pivot: 5100
Our preference: short positions below 5100 with targets @ 5010 & 4985 in extension.
Alternative scenario: above 5100 look for further upside with 5145 & 5167 as targets.
Comment: the RSI is bearish and calls for further downside.
Supports and resistances:
5167
5145
5100
5033 Last
5010
4985
4960