XAU Trading Outlook (16-10-2015)

GOLD

Pivot: 1176

Likely scenario: Long positions above 1176 with targets @ 1192 & 1196 in extension.

Alternative scenario: Below 1176 look for further downside with 1163 & 1151.5 as targets.

Comment: Intraday technical indicators are mixed and call for caution.

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