KOG Report:

In last week’s KOG Report, we said we would stick with the same plan we have been following for most of this year. We said we would remain with the bearish view and look for lower pricing in Gold before we see the rally we have been expecting.…

Daily chart:

Levels holding well, plan is going well, not much more to say. Level above is 1685-90 on this chart with the support being 1640-45, these are the breaks you’re looking for. Short above, long the lows!!

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Weekly chart:

Again, same levels, same plan. One difference though on this chart, and that’s that resistance level which due to the longer time frame is a little higher than the daily, sitting around 1706.

We’ll stick with the target for now. If it…

Monthly chart:

We’ve added a new update on this with a new level to look for retracement into, whether it be during the remainder of this week or the beginning of next month. Plan is the same, take this chart as reference.

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End of day update from us here at KOG:

We managed to catch a beautiful short early Asian session from the resistance level we mentioned in the KOG report down to 1650, where we suggested taking partials and protecting the trade. We can now see support forming…

End of day update from us here at KOG:

We had a great short this morning with Excalibur confirming the 1640 level where we took the exit and looked for a long trade. Support held and what a wonderful long trade into that resistance level as we illustrated…