THE KOG REPORT - Update

End of day update from us here at KOG:

One of those levels was going to give!! Yesterday we said levels are to be tested as long as your risk appetite and model is secure. One of these levels we felt was going to give a move and it happened to be from the order region as we suggested, not the extension of the move.

So, what now?

Typical Gold, is holding it's ground with a bounce of the lower support giving us this late session push to the upside. We're active above so the immediate region this time may not hold price if the level of 2430 holds it up. The first obstacle is 2440 which if broken will take us in to the extension of the move, where we'll look for the RIP and attempt to short it again.

We're in a new region now, new traders shouldn't even be trading this until the price has found its feet, almost to see if it likes this region or not. We've left the path and illustrations on the chart for reference. Let's see what tomorrow brings!

As always, trade safe.

KOG