XAU Trading Outlook (08-04-2016)

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

Pivot: 4960

Our preference: short positions below 4960 with targets @ 4830 & 4800 in extension.

Alternative scenario: above 4960 look for further upside with 5030 & 5083 as targets.

Comment: as long as 4960 is resistance, likely decline to 4830.

Supports and resistances:
5083
5030
4960
4888 Last
4830
4800
4760

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