THE KOG REPORT - Update:

End of day update from us here at KOG:

Another hot spot and target hit, showcasing the KOG methodology and strategy to perfection. Each tick and level completed so far with the final level now tapped and bounced.

So, what now?

We're at key level support here on gold on the flip, its an order region that is being used to propel the price in either direction, not only that, but we're still in this range! A breakout is imminent, so please trade the rest of this week with caution. We have support below 2030, and in extension of the move we're looking at 2020, which needs to hold price up for us to clear those upside order, before then a potential attempt lower. So resistance stands at 2045-50 and again with extension of the move into the range high 2060-5 which was mentioned in the KOG Report.

For now, 2030 holds and we're looking like we'll complete the move to the upside levels 2050-55 and above that 2060.

From Camelot this morning:

XAUUSD 07/02/24 1H

Support: 2030 / 2023 / 2021 / 2016 / 2010

Resistance: 2035 / 2042 / 2045 / 2050 / 2055


Price: 2033

KOG’s Bias for the day:

Bullish above 2024 with targets above 2050

Bearish on break of 2024 with targets below 2018 and below that 2016

Summary:

Today is going to be a messy one by the looks of it. We have immediate support below at 2028 with resistance here around 2035/6. MAs on the hourly are drawn together so expect some choppy price action and ranging between the levels. Looks like a swing forming with liquidity sitting below the support and price needing to pop above 2037 to then complete the move into 2050-55.