XAU Trading Outlook (09-05-2016)
Crude Oil (WTI) (M6) Intraday: the bias remains bullish
Pivot: 44.50
Our preference: long positions above 44.50 with targets @ 46.08 & 46.60 in extension.
Alternative scenario: below 44.50 look for further downside with 43.64 & 43.14 as targets.
Comment: the RSI advocates for further upside.
Supports and resistances:
47.00
46.60
46.08
45.61 Last
44.50
43.64
43.14