XAU Trading Outlook (08-04-2016)
Trade SPI 200 (ASX) (M6) Intraday: capped by a negative trend line.
Pivot: 4960
Our preference: short positions below 4960 with targets @ 4830 & 4800 in extension.
Alternative scenario: above 4960 look for further upside with 5030 & 5083 as targets.
Comment: as long as 4960 is resistance, likely decline to 4830.
Supports and resistances:
5083
5030
4960
4888 Last
4830
4800
4760