THE KOG REPORT - Update

End of day update from us here at KOG:

A lovely day again on Gold with the move from PMI sticking with our bias and coming close to the target level but bouncing support temporarily. We suggested traders take and protect at the level giving them the opportunity to catch the bounce, if they wanted to.

Now we have support below 2150 which is an obstacle that needs to be crossed to go lower, with resistance above 2170 which is our bias level and needs to be broken to go higher. We would like to see what happens in the Asia session before we make any moves, as well as it being Friday tomorrow but if resistance holds, we'll look to complete the bias level targets below.

Expect there to be some end of week action as we have triple witching day as well.

For now, resistance holds 2170, we'll go lower with support levels 2153 and below that 2150.

As always, trade safe.

KOG

Comment:

Failed attempt at resistance.

Comment:

This is completed with slight extension to the upside