Gold followed the path we chose to the upside missing the first two reaction levels and rejecting at the wedge trend line resistance. This is a good place to protect any short trades as the price still has the hurdle of 1793 to break below if we are to see some more selling pressure.

We have an indication that we could still see another push up to challenge that 1806-10 level at some point so its best to trade with caution.

Above 1793 - We can still resume the bullishness towards the 1806-10+ levels during the US session

Break below 1793 - Can open the doors to the lower levels we've highlighted

The good thing here is that gold is moving nicely giving traders time to make decisions and focus on the immediate levels.

Another day of Jackson Hole today to trade carefully.

KOG REPORT has been published on TradingView. Please do give us a like 🙏

Its bank holiday in the UK tomorrow so there may be low volume until the US session.

The hourly is looking bullish , there is what could potentially be a bulll flag which has broken to to the upside which suggests to us to take shorts with caution. We can see support below at around the 1807-05 level again but gold needs to break this level to go down further.

The key level is 1795 support, which was previous resistance, now support again. You can see we're resisting at the break out and the price is trying to challenge that 1820 level again. This level needs to break for it to go higher!

Support:

1807
1802

Resistance:

1820
1830

We would expect slight volatility today as its the monthly close, its also NFP on Friday so the market may make a move and then settle for the rest of the week, please trade today with caution.

Perfect backtest of support and bounce. Now look for resistance above. If you got in long, protect your trades, although its bullish we feel the upside is limited. We shall remain bearish on Gold unless this breaks and holds above 1820. Trade safe

Don't forget its end of month so there will be profit taking. Also NFP on Friday....Lets be prepared

More detailed outlook. Please do give us a like 🙏

We've updated the chart and analysis slightly for you all. Please do give us a like 🙏

US Session - We should see some movement. Please trade smaller than usual until NFP is over and done with. Use the levels we publish and add the trends that are on the charts. Make sure you use a sensible stop loss on all trades and have a plan for each trade.

Protect any trades if you're in from 1820. Think about taking partials here at 40pips

Would be an idea to move your stops to entry as well. Play safe!!

There should be low volume in the markets today so we're not expecting much of a change to our previous analysis. We'll update you all again before the US Session starts.

Gold update - Nothing has really changed in our view from yesterday. What will be more important is tomorrows NFP release. As usual we'll share our NFP analysis a few hours prior to the event and be online during the event with regular updates for our traders.

Trade safe everyone, take note of the advice we've given. Please do give us a like 🙏