THE KOG REPORT - Update (That level had to give)

End of week update from us here at KOG:

Wow, what a week on the markets again! In today's morning review we said today we would definitely not long the market, instead, even though we had a target level above! We had previously given the levels to look for RIPs, and unfortunately the first two we surpassed, which we did say, if broken we'll look higher. That third region though, not only did we have an tap and bounce there, but it gave traders the opportunity to capture the move we were looking for to the downside.

So now, we've moved with it up, we stopped going long just in time, and we've moved with it down. Price has closed below the order region of 2350-55 suggesting there will be more downside to come next week unless we correct this move. We're still bullish, but there is a chance that swing could be in play now! We won't know until next week however once we've published the KOG Report.

For now, we'll wish all our followers a great weekend ahead, and we'll be back on Sunday with the KOG Report and our view for the week ahead.

As always, trade safe.

KOG