THE KOG REPORT - Update

End of day update from us here at KOG:

Another decent day on Gold with the bias working well in the morning giving us a great trade, and then again in during the US Session hitting our first target level 2395. This level however is proving hard to break so we need to play caution on going long, unless we get the key levels below. Above we now have the resistance level 2380-83 which will need to break to go higher, and above that 2390 on the stretch. Price below this region is looking a little fragile, together with the double top we could be looking to target the lower order region 2350-55. Would say we've done well on the longs so let's stand back a little as we draw closer to the end of another extreme week.

We did say there is likely to be a sudden turn which needs to be expected, so please make sure you're using the levels wisely and have a risk model in place, if you're going to trade.

As always, trade safe.

KOG

Comment:

We wanted 2350-55 we got 2354 low, with a tap and bounce. Now we would wait as a break above the resistance level will take us higher again.