XAU Trading Outlook (10-05-2016)
Gold spot Intraday: under pressure
Pivot: 1271.25
Our preference: short positions below 1271.25 with targets @ 1261.00 & 1253.00 in extension.
Alternative scenario: above 1271.25 look for further upside with 1282.25 & 1289.50 as targets.
Comment: the RSI is mixed to bearish.
Supports and resistances:
1289.50
1282.25
1271.25
1264.25 Last
1261.00
1253.00
1246.25