XAU Trading Outlook (04-04-2016)

SPI 200‏ (ASX)‏ (M6) Intraday: capped by a negative trend line.

Pivot: 5040

Our preference: short positions below 5040 with targets @ 4930 & 4880 in extension.

Alternative scenario: above 5040 look for further upside with 5083 & 5145 as targets.

Comment: the RSI advocates for further downside.

Supports and resistances:
5145
5083
5040
4995 Last
4930
4880
4800

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