THE KOG REPORT - UPDATE

End of day update from us here at KOG:

Slow ranging day with support 1985 being targeted as expected and bouncing giving the long trade, but not completing the whole move. Resistance is at 1990 which needs a powerful break to compete the levels we wanted this morning and last night, otherwise let's take what we've been given and await the news tomorrow. Tomorrow there are sure to be fireworks on the markets. Caution on shorting, long levels are ideally what we want before close.

We'll stick with the plan for now, as long as this level and order region hold the price above.

From Camelot this morning:

Support: 1990 / 1985 / 1982 / 1977 / 1975 / 1970

Resistance: 1995 / 2004 / 2008 / 2010 / 2016 / 2020


Price: 1993

KOG’s Bias for the day:

Bearish below 2010 with targets below 1982

Bullish on break of 2010 with target above 2016 and above that 2022

Summary:

Although the bias is bearish below, price needs to make a retracement on yesterdays move. We have the levels above 1995 and above that 2003 which seem realistic with extension into the 2011 and 2016 region where price needs to stay below in order to then target lower pricing.

As always, trade safe.

KOG

Comment:

1995 tapped.

We need 1990 to support

Comment:

Support held again, giving the bounce, back up to break 1995. Moving nicely

Comment:

2003 target hit, we're out, job done team