THE KOG REPORT - Update

End of week update from us here at KOG:

Not a bad week at all on Gold but what was not expected was the move that we're witnessing now. We gave the idea yesterday that the higher level needs to be attacked, and support stood below where we wanted to long. That long was complete into the target region where we suggested any shorts now be taken level to level as the accumulation resulted in a controlled reaction from the short region. Can honestly say, although lucky we didn't hold shorts and got a pin point exit, we put a risk on longs from the level its did a pip to pip bounce from. Anyhow, nothing ventured nothing gained.

So now, we have key regions above as shown on the chart, the move is strong and full of volume but at some point a reaction is on the cards, would we risk it now on a Friday, no! Can see the above levels being filled, if not by close then most likely on the open, so please try not to leave open positions over the weekend.

We'll be back on Sunday with the KOG report and our view for the week ahead.

Wishing you all a great weekend. As always, trade safe.

KOG