THE KOG REPORT - Update

End of day update from us here at KOG:

BOOM! We were initially looking for the move higher yesterday to then get that shorting opportunity, however, the structure entailed a move from lower down, hence we shared the levels and the targets with traders looking for lower pricing. We managed to complete our bearish below bias targets as well as an illustrated move into the KOG Report target level where we got that TAP AND BOUNCE, giving those who wanted to long the move up from 2152 into 2165 resistance.

We still have an active target below, so for that reason we would suggest not going short here, but look for price to make a gradual incline into the resistance levels 2165 and above that 2170-75, with the view we may get another set up to short again into the lower support region.

Please note, breaking above will again take us up into the 2195 price point before another potential reaction in price.

For now, support 2150-55 region, if held, incline into 2170-75 where we’ll sit and wait.

As always, trade safe.

KOG

Comment:

2165 hit, gradual incline was guaranteed. Protect of take your longs

Comment:

2170-5 now in and move complete. BOOM!