XAU Trading Outlook (06-01-2016)

SPI 200‏ (ASX)‏ (H6) Intraday: the downside prevails

Pivot: 5190

Our preference: short positions below 5190 with targets @ 5100 & 5063 in extension.

Alternative scenario: above 5190 look for further upside with 5232 & 5270 as targets.

Comment: as long as 5190 is resistance, likely decline to 5100.

Supports and resistances:
5270
5232
5190
5147 Last
5100
5063
5040

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