XAU Trading Outlook (07-04-2016)

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

Pivot: 4985

Our preference: short positions below 4985 with targets @ 4870 & 4830 in extension.

Alternative scenario: above 4985 look for further upside with 5030 & 5083 as targets.

Comment: as long as 4985 is resistance, expect a return to 4870.

Supports and resistances:
5083
5030
4985
4943 Last
4870
4830
4800

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