THE KOG REPORT - UpdateEnd of day update from us here at KOG:
A very choppy day on gold today making it difficult to hold trades into the extreme levels. The range is smaller than usual and accumulation is in progress, so we will say please play defence on the markets.
We wanted lower to go higher, the red box broke upside, and if switched to the 1H TF, like us you would have got a decent trade into red box resistance for the RIP and short scalp. As you can see, price is now playing between the red boxes with intra-day support being way down at 3210 and resistance above at 3255. These are now the levels of play in our opinion and the market has played it in such a way that both are open targets! We'll wait lower to long or higher to short, here in the range, not interested.
KOG’s bias of the week:
Bearish below 3235 with targets below 3196, 3185, 3177, 3165 and 3155
Bullish on break of 3230 with targets above 3242✅, 3250, 3255 and 3262
RED BOXES:
Break above 3210 for 3118✅, 3220✅, 3225✅, 3230✅, 3235✅ and 3247✅ in extension of the move
Break below 3195 for 3187, 3179, 3165, 3155, 3150 and 3137 in extension of the move
As always, trade safe.
KOG
