THE KOG REPORT - Update

End of day update from us here at KOG:

So far so good! Yesterday we said we would need a close above the 4285 level in order to go higher, otherwise today we were likely to see more downside.

We've stuck with the path, the defence boxes and indicators are working extremely well in these conditions as well as the algo. We activated lower today but due to where price was, decided to take the long trade first back up for the retracement and then look for the short from above, which has now completed.

For now, I would like to take it a little easy and wait for daily close again. With the key mean up above and a key level of 4155 resistance, it's going to be interesting to see what they do. If we remain below, potential here for more downside and that 3950 level, which is not too far away now!

From Camelot this morning:

Price: 4167

RED BOXES:

Break above 4180 for 4189, 4206, 4220, 4227 and 4235 in extension of the move
Break below 4160 for 4150✅, 4142✅, 4136✅ and 4120✅ in extension of the move

As always, trade safe.

KOG