XAU Trading Outlook (06-04-2016)
SPI 200 (ASX) (M6) Intraday: capped by a negative trend line.
Pivot: 5000
Our preference: short positions below 5000 with targets @ 4860 & 4800 in extension.
Alternative scenario: above 5000 look for further upside with 5030 & 5083 as targets.
Comment: the RSI lacks upward momentum.
Supports and resistances:
5083
5030
5000
4886 Last
4860
4800
4750