XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG.

As we suggested in yesterdays update we were looking for the 1835 initially to hold before a retest of the 1850 level which gave traders nearly 150pips to the target the retest. Now we've come back down towards the 1835 level which looks to be supporting price again so there are chances this time we may break above the 1850 level to target the higher resistance levels. We updated this morning that the move down and up to resistance was enough for today so its a good idea to come back to this next week. We've illustrated what to look for in the remainder of the session as long as this level holds. Breaking below will target 1820 and holding above should retest that 1845-50 level where if broken this time we're looking higher. Level to level who ever is following, take the pips and come back next week.

From Camelot this morning:

XAUUSD 20/05/22 1H

Support: 1843 / 1835 / 1831 / 1826 / 1821

Resistance: 1850 / 1860 / 1867 / 1875 / 1890

KOGs bias for the day:

Bullish above 1820 with targets above being 1865

Bearish on break on close of 1820 with targets below 1805 and below that 1790

Summary:

Support stands at 1835 and below that 1821. Chart is looking bullish but needs to close above 1850! Its options expiry which will mean the late US session could be quite volatile.