XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

After the CPI data release we've seen quite a move to the downside on Gold and Silver. On Sunday we said we would be looking for a small rally into that 1730-35 region and potentially above into 1745-50 before shorting the market again to target those lower levels. We're not interested in going long here as we've done well with shorting it so now we want to see where and how we close on the day. Illustrated is what we feel to look for in the remainder of the sessions.

From Camelot this morning:

Support: 1722 / 1720 / 1714 / 1710

Resistance: 1726 / 1730 / 1746 / 1750

KOGs Bias for the day:

Bullish above 1727 on a forceful break with targets above 1735 and above that 1743

Bearish below 1727 with targets below 1710 and below that 1695

Summary:

CPI today which is likely to move the markets. We’re in a huge order range here and you can see the market accumulating getting ready for a breakout.