XAUUSD 1H - Levels

Quick end of day update from us here at KOG.

So after the move down over the last 5-6 trading days we should expect the price to exhaust a little and settle within a range before it decides whats next on the horizon. For that reason we've had a slow day on Gold today with us only taking one long trade into the resistance level and then becoming observers of price rather than trading the range. We would like to see this push up into that higher resistance area where we will want to see how the the price reacts. We have highlighted the potential short term trend which some may see as a bear flag, so lets see if it does complete the move after the short correction and target that lower support and beyond.

Key resistance now stands at the 1940 level with key support just below here at around 1890. The rest of the week will be interesting to see as we are likely to see some profit taking and position covering. We'll stick with the plan on the KOG Report!

From Camelot this morning:

XAUUSD 26/04/22 1H

Support: 1899 / 1895 / 1893 / 1885 / 1877

Resistance: 1910 / 1920 / 1924 / 1930-35 / 1943

KOGs bias for the day:

Bearish below 1930 with targets below being 1895 and below that 1885

Bullish on break and close of 1930 with targets above 1940, 1945 and above that 1960

Summary:

We are anticipating a slight push to the upside at some point, how low will they sweep liquidity before that though remains to be seen. We have an Excalibur target just below and one above so look for support around the Excalibur target below for a potential short term turn. It’s a difficult market down here as institutions look like they don’t want to give buyers any breathing space. LEVEL TO LEVEL PLEASE!