THE KOG REPORT - Update - Can they close above 2400?

FX:XAUUSD   Gold Spot / U.S. Dollar
End of day update from us here at KOG:

An interesting day on gold with price moving into the higher region hitting our Excalibur targets and then giving the RIP from above straight into the regoin below. That support region has held giving the opportunity to long, however, we should be now waiting for the daily close. The fight is on, can they close above the 2400 level today, or, below.

As it stands, support is 2385, above that we're looking like we go higher on the close, the best entries were shown earlier from the 2375 region, which should be protected and partials taken if you wish. How high does it go if they push? We had the levels 2443 and above that 2350-55. These are weak at the moment, so please, do not get caught going long high up here as we're expecting a turn at any moment!

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

As always, trade safe.



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