THE KOG REPORT - UpdateEnd of day update from us here at KOG:
A good day on gold following the KOG Report yesterday where we said we would be looking for the lower level (red box support active) to hold price and give us the push up for the long trade. We managed to grab that trade and complete a majority of our targets before suggesting traders protect and manage their trades. Our indicators were showing a decline which happened and as you can see we've bounced the 2930 level again.
We now have support below 2940 which needs to break, and unless broken the first hurdle to cross is the 2948 level for the coming session. We're thinking we'll stick with the plan, not having caught that short, we'll wait higher and see if we get confirmation again.
We want traders to play caution here on longs to high up, a sudden turn can cause an aggressive correction. Please use the levels and the red boxes which are being shared.
KOG’s bias of the week:
Bullish above 2920 with targets above 2945✅, 2949✅, 2952✅, 2955✅ and above that 2970
Bearish below 2920 with targets below 2916, 2910, 2906, and below that 2898
RED BOX TARGETS:
Break above 2943 for 2947✅, 2950✅, 2955✅, 2962, 2966 and 2977 in extension of the move
Break below 2930 for 2923, 2920, 2910, 2906 and 2899 in extension of the move
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As always, trade safe.
KOG
