XAU Trading Outlook (17-05-2016)
Trade SPI 200 (ASX) (M6) Intraday: further upside.
Pivot: 5340
Our preference: long positions above 5340 with targets @ 5450 & 5500 in extension.
Alternative scenario: below 5340 look for further downside with 5302 & 5270 as targets.
Comment: the RSI is mixed to bullish.
Supports and resistances:
5540
5500
5450
5404 Last
5340
5302
5270