FX:XAUUSD   Gold Spot / U.S. Dollar
End of day update from us here at KOG:

A nice end to the month, with Gold giving us the short, the long into Excalibur and then anyone who wanted was given the levels to short again for another decent capture. For now, we would suggest it's too risky to get into the markets as there could be a late session move to come, plus its the last day of the month.

So, bulls will want to try and close this above the 2050 level with support now standing at 2038 and 2035, which is held could give us a move tomorrow to clear any break even traders from slightly above 2050, which is where we wanted price to go initially when the KOG Report was published on Sunday. Not a good idea to long here, wait for the level to give the reaction, if it does tomorrow could be a swing high with a deep undercut low unless they manage to hold above.

If you got the move into support, then the long into the level, be happy with what the market has given and come back next week.

As always, trade safe.


Trade closed: target reached


🟡 Disclaimer: Not financial advice. For educational purposes only.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.