XAU Trading Outlook (05-02-2016)

Gold spot Intraday: the upside prevails.

Pivot: 1147.5

Our preference: long positions above 1147.5 with targets @ 1160 & 1166 in extension.

Alternative scenario: below 1147.5 look for further downside with 1141 & 1136.6 as targets.

Comment: the immediate trend remains up and the momentum is strong.

Supports and resistances:
1168.75
1166
1160
1156 Last
1147.5
1141
1136.6

Ticker : GOLDS
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