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