THE KOG REPORT - UPDATE

End of day update from us here at KOG:

Yesterday we said the higher region of 2050-55 is likely and would represent an opportunity to short the market. We suggested the range of 2055-2035 where we said there is potential for them to range the market and accumulate more orders. The level gave a short into the order region where we're now seeing a reaction in price to the upside.

2045 looks to be broken which now opens up the higher region of 2056-8, which is a potential target for the Asian session. They will want to take out the shorts from the last Asian session so expect a higher high before another attempt to break that support region. Again, the close is important, bulls want to try and close it above 2050 for the week and month, while bears want to close it below 2030. Tomorrow and Friday, we're likely to see more whipsawing on gold and choppy price action with upside risk! If you're going to trade it, please don't get caught high!

As always, trade safe.

KOG