Yesterday we said we would be looking for the support levels to hold to then again see some further gain on gold before any reaction in price. WE gave the levels 1998 and below that 1995 where we were looking for price to target at some point before giving a RIP. Not only did it give us the short but the TAP AND BOUNCE in for the reverse trade long which if you're following should now be protected and partials taken before market close.
So, what now?
We would suggest no more trading as it's late session and it's a Friday, you want your trades either protected or you want to have come out of positions ready for a new week. Support here is strong at 2003 with resistance the 2010, 2012 and the 2015 level we wanted yesterday for the long. Our bias still stands at the level of 2020.
We're done for the day and the week. Wishing all our members, followers and those who have supported us a fantastic weekend ahead. We'll see you on Sunday for the KOG Report and our view for the week ahead.
As always, trade safe,
KOG
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2012 and 2010 complete, let's see if we can finish the week completing the higher one