Last week we were looking for the 1785 level on the smaller timeframes and 1795 on the higher. The price touched the 1797 region and rejected aggressively. As mentioned last week, this level is a key level from previous years and also a turning point for a medium-term decline.
We’re looking for this to go a little bit higher this time, the trend is changing and the levels are moving with it. Our immediate target on the smaller timeframes is around the 1804-12 price point.
The weekly is also showing a KOG level of 1820-25 (circled on the chart). This is a potential extension of the price and also a potential target. We are not however ruling out a deeper pullback this time!
We’ve kept the boxes on the chart. As we said 3-4 weeks ago, we were expecting this pattern to play out and the price to go up. Please have a look at our previous 4H analysis, that price went straight into our KOG target zone.
With FOMC on Wednesday we have to play the markets carefully this week. This is Gold so expect the unexpected.
Support:
1768
1751-48
1736
Resistance:
1782
1794/5
1806-10
1820-25
1850-60
Your likes and comments are very much appreciated and we thank you for supporting our analysis and ideas.
As always, trade safe.
KOG
We’re looking for this to go a little bit higher this time, the trend is changing and the levels are moving with it. Our immediate target on the smaller timeframes is around the 1804-12 price point.
The weekly is also showing a KOG level of 1820-25 (circled on the chart). This is a potential extension of the price and also a potential target. We are not however ruling out a deeper pullback this time!
We’ve kept the boxes on the chart. As we said 3-4 weeks ago, we were expecting this pattern to play out and the price to go up. Please have a look at our previous 4H analysis, that price went straight into our KOG target zone.
With FOMC on Wednesday we have to play the markets carefully this week. This is Gold so expect the unexpected.
Support:
1768
1751-48
1736
Resistance:
1782
1794/5
1806-10
1820-25
1850-60
Your likes and comments are very much appreciated and we thank you for supporting our analysis and ideas.
As always, trade safe.
KOG
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.