THE KOG REPORT - UPDATE

End of day update from us here at KOG:

Are they going for it? Our bias today was bullish above 2035 with target level 2055, however, being the first day of the month we wanted to see how and where they move the price to.

Short sellers are being stretched with with levels above 2070 and above that our target level for the long. Ideally we wanted a nice pullback to get in for this move, however, such are the markets. Let's see where they close and we'll make a plan.

Support now turns to the 2055 level with 2090 in sight and the bias remaining bullish above.

Resistance levels 2070-75 which may hold for the close.

From Camelot this morning:

Support: 2040 / 2037 / 2034 / 2030 / 2027 / 2022/ 2015

Resistance: 2045 / 2052 / 2055 / 2057 / 2060 / 2065


Price: 2046

KOG’s Bias for the day:

Bullish above 2035 with targets above 2055

Bearish on break of 2035 with targets below 2020

We'll be back on Sunday with the KOG Report and our views for the week ahead.

As always, trade safe.

KOG

Trade closed: target reached:

Target level complete