XAU Trading Outlook (06-04-2016)

SPI 200‏ (ASX)‏ (M6) Intraday: capped by a negative trend line.

Pivot: 5000

Our preference: short positions below 5000 with targets @ 4860 & 4800 in extension.

Alternative scenario: above 5000 look for further upside with 5030 & 5083 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
5083
5030
5000
4886 Last
4860
4800
4750

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