THE KOG REPORT - Update

End of day update from us here at KOG:

Another clean day on Gold with the support level holding giving us the long trade into the illustrated levels above where we then said we would wait and assess price. We had a bearish below 2195 bias and a target level of 2165, the bias level was slightly surpassed but we managed to get a tap and bounce for a lovely short trade.

So, what now?

We need to be careful here so this report comes with caution. We're not going to start risking accounts when price is a little indecisive, so for that reason we're going to play the levels and look for a confirmed break or rejection. Above, sits the levels of 2180-85, which, if we do retrace is a viable level to target as long as the support level 2170 hold up the price. On the flip, which is what we would be looking for, is a rejection and break of the level and for us to complete the move into the 2150-55 region before another RIP to target higher!

Levels are on the chart, as always, trade safe.

KOG

Commentaire:

2170 held during the Asian session giving the move up towards 2180-85 which is complete. Support now stands 2180