XAU Trading Outlook (07-04-2016)
SPI 200 (ASX) (M6) Intraday: capped by a negative trend line.
Pivot: 4985
Our preference: short positions below 4985 with targets @ 4870 & 4830 in extension.
Alternative scenario: above 4985 look for further upside with 5030 & 5083 as targets.
Comment: as long as 4985 is resistance, expect a return to 4870.
Supports and resistances:
5083
5030
4985
4943 Last
4870
4830
4800