XAU Trading Outlook (05-04-2016)

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

Pivot: 5035

Our preference: short positions below 5035 with targets @ 4930 & 4880 in extension.

Alternative scenario: above 5035 look for further upside with 5083 & 5145 as targets.

Comment: the RSI advocates for further downside.

Supports and resistances:
5145
5083
5035
4971 Last
4930
4880
4800

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