Gold spot Intraday: capped by a negative trend line

xauusd20160623-2
Pivot: 1272.00

Our preference: short positions below 1272.00 with targets @ 1249.00 & 1242.00 in extension.
Alternative scenario: above 1272.00 look for further upside with 1278.00 & 1286.00 as targets.
Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
1286.00
1278.00
1272.00
1258.00 Last
1249.00
1242.00
1234.50

Gold spot Intraday: key resistance at 1278.00

xauusd20160622-4
Pivot: 1278.00

Our preference: short positions below 1278.00 with targets @ 1256.50 & 1249.00 in extension.
Alternative scenario: above 1278.00 look for further upside with 1294.00 & 1300.00 as targets.
Comment: the RSI is capped by a declining trend line.

Supports and resistances:
1300.00
1294.00
1278.00
1267.85 Last
1256.50
1249.00
1242.00