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