XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

So we've reached our awaited target as identified in the KOG Report on Sunday, although complete the chop on the way up made it a difficult trade to catch the bottom on. We maintained the bias bullish above and once confirmed completed 4 Gold targets on the way up, a decent day's trading in very messy market conditions. We would now suggest caution as we have NFP tomorrow, at some point this should start to range, unless we have another late move like we did yesterday. Its a strong resistance above so expect a spike to the upside, we remain bullish above for now!

From Camelot this morning:

XAUUSD 01/12/22 1H

Support: 1775 / 1771 / 1767 / 1760 / 1755

Resistance: 1775 / 1781 / 1785 / 1795 / 1806

KOGs Bias for the day:

Bullish above 1761 with targets above 1785 and above that 1795

Bearish on break and close of 1761 with targets below 1755 and below that 1744

Summary:

1785 and 1795 are now open regions, however, unless you’re already holding a portion from yesterday its too high to go long. Same as yesterday, play defence, use the levels and red boxes which work very well. Price above 1761-5 remains bullish with 1800 an open target. NFP tomorrow so expect more of this extreme price action across the markets.