XAUUSD - KOG REPORT!

26/02/23

KOG Report:

In last week’s KOG Report we said we could see some bullish orders coming in, however, we suggested looking at the higher levels of resistance to confirm the move to the upside. We gave the order region of 1830-35 with a bias of bullish above and bearish below and suggested caution on the break! We stated, that if that level broke to the downside we would see the low 1800’s on Gold during the course of the week after the early ranging markets and accumulation.

The first level we gave for the longs was the 1850-48 level which was played just short before the reversal and break of the 1830-35 order region. During the course of the week we updated traders with the morning reviews and daily targets along with the bias, bullish above and bearish below which worked well and hopefully managed to keep those who were tracking it in the right direction.

We managed to complete another great week of hitting targets on not only Gold and Silver, but tracked DXY to the upside with Excalibur guiding us through the markets. US30, DOW, NASDAQ, OIL and the AUD pairs gave us a fantastic pip capture and return with the trade of the month being US30 so far where Excalibur identified the top and now approaching our lower target.

So, what can we expect in the week ahead?

We’re going to stick with the same levels as last week now adding the lower support region where if approached we could see a reaction in price. There’s a lot of confluence below on the charts so that makes these support levels really important. They will need a lot of volume to break them if they’re going to continue this move down so expect some sort of recovery attempt next week. What we want to see is if the 1825-30 level is attempted by bulls and if they can break it this time. If not, that now makes the order region a resistance level to look out for with key level support first at 1800-05 and below that 1785-95.

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As always, trade safe.

KOG

Comment:

We're now at 4H resistance where we can expect a reaction in price. The move down was limited so this monthly and daily close is important. As suggested in the report and the morning reviews, bullish above and bearish below. Right now the higher levels look like opportunities, let's see how we close.