XAU Trading Outlook (01-02-2016)

SPI 200‏ (ASX)‏ (H6) Intraday: the upside prevails.

Pivot: 4945

Our preference: long positions above 4945 with targets @ 5040 & 5080 in extension.

Alternative scenario: below 4945 look for further downside with 4890 & 4850 as targets.

Comment: the RSI is supported by a rising trend line.

Supports and resistances:
5130
5080
5040
5002 Last
4945
4890
4850

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