XAU Trading Outlook (12-05-2016)

Gold spot Intraday: further upside

Pivot: 1270.00

Our preference: long positions above 1270.00 with targets @ 1283.10 & 1287.70 in extension.

Alternative scenario: below 1270.00 look for further downside with 1264.30 & 1256.40 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1295.70
1287.70
1283.10
1277.00 Last
1270.00
1264.30
1256.40

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