XAU Trading Outlook (16-05-2016)

Trade SPI 200‏ (ASX)‏ (M6) Intraday: consolidation.

Pivot: 5370

Our preference: short positions below 5370 with targets @ 5302 & 5270 in extension.

Alternative scenario: above 5370 look for further upside with 5390 & 5415 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
5415
5390
5370
5336 Last
5302
5270
5210

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