THE KOG REPORT - Update End of day update from us here at KOG:
Following on from the KOG report, we said there was a huge caveat to the idea, that being that we will tap into that red box resistance and then make the drop rather than just continuing upside. This move worked out well not only giving the RIP but also terminating at the red box and bias level which gave us the long trade upside to where we are now.
For now we have resistance at the 3395 level which still needs to break upside, while support is the 3370-75 level. Ideally, what we want to see over the Asian session is a break above the 3400 level, then a dip into the 3380-75 level before resuming the path we have anticipated in the report. For that reason, we won't change anything in our plans for now.
Please note, a break below 3370 is needed to change the structure.
Key Levels:
Red box defence 3375-80, needs to be broken
Red box defence 3350, needs to be broken
KOG’s bias of the week:
Bullish above 3340 with targets above 3375✅, 3390✅, 3395✅ and above that 3410
Bearish on break of 3340 with targets below 3330, 3320, 3310, 3306 and below that 3298
RED BOX TARGETS:
Break above 3375 for 3378✅, 3390✅, 3395✅, 3406, 3410 and 3419 in extension of the move
Break below 3365 for 3355✅, 3350✅, 3340, 3336, 3330 and 3323 in extension of the move
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As always, trade safe.
KOG
