End of day update from us here at KOG:
We're at crucial support now on Gold with immediate resistance being the 1998-200 level and above that 2010-12. We've got the short into the lower levels and those who wanted would have got the long from the bounce from support which is now running over 100pips. We would suggest protecting these long trades and to monitor the resistance levels above. Resistance at those levels and we should see some more bearish pressure on Gold so please trade carefully.
We're at crucial support now on Gold with immediate resistance being the 1998-200 level and above that 2010-12. We've got the short into the lower levels and those who wanted would have got the long from the bounce from support which is now running over 100pips. We would suggest protecting these long trades and to monitor the resistance levels above. Resistance at those levels and we should see some more bearish pressure on Gold so please trade carefully.
Make sure to manage and protect your trades if you're long
End of day update from us here at KOG:
2010-12 was the level we wanted this morning which has now been achieved. We had this price point in mind for a RIP, however, it looks like they're going to try to range it here for the close. For that reason, support now stands at the 2001-3 level with immediate resistance at the 2010-12 region. Keep an eye on the structure and remember not to over do it in this range. Accumulation here will result in a breakout so use the levels to your advantage. Targets are active, it's just about finding the right entry now.
2010-12 was the level we wanted this morning which has now been achieved. We had this price point in mind for a RIP, however, it looks like they're going to try to range it here for the close. For that reason, support now stands at the 2001-3 level with immediate resistance at the 2010-12 region. Keep an eye on the structure and remember not to over do it in this range. Accumulation here will result in a breakout so use the levels to your advantage. Targets are active, it's just about finding the right entry now.
End of day update from us here at KOG:
This morning we gave the bias with bearish below to complete the Excalibur target and also suggested the bounce which would likely take us back up into the 1990-95 region which is where we felt the price would need to be defended. Right now, the short worked extremely well and those who took the long back up into the order region should now start thinking about protecting and taking partials on their trades. Resistance stand here at 1995 and above that the 2003 which will need to hold for bears to take control again. The bearish bias still stands below 2007 but we would now expect the price to settle with the immediate support being 1885 and resistance mentioned above. We're out of trades and will wait to assess the market tomorrow, anyone still in, please use the levels posted.
This morning we gave the bias with bearish below to complete the Excalibur target and also suggested the bounce which would likely take us back up into the 1990-95 region which is where we felt the price would need to be defended. Right now, the short worked extremely well and those who took the long back up into the order region should now start thinking about protecting and taking partials on their trades. Resistance stand here at 1995 and above that the 2003 which will need to hold for bears to take control again. The bearish bias still stands below 2007 but we would now expect the price to settle with the immediate support being 1885 and resistance mentioned above. We're out of trades and will wait to assess the market tomorrow, anyone still in, please use the levels posted.