XAUUSD 1H - Levels

Quick end of week update from us here at KOG.

Looks like we're back in the previous range, unless something happens in the next few hours the daily and weekly will close here making it difficult again for traders. The last volume injection from here resulted in the spike down, so its possible they will do the opposite at some point! What bears don't want to see is a break and close on the daily above that 42 level.

Its been a bit a choppy week to say the least, however, we've managed to stay in the right way round on Gold and traded it up to the weeks high. We did mention in the KOG report we were looking for higher high this week which we got...That also gave traders an opportunity to short the market based on the daily analysis. What hasn't happened though is the lower Excalibur targets have not been hit! This would suggest to us that we're in for a bit of a volatile week next week which will bring with it aggressive swings and more choppy price action on Gold.

Yesterday all our higher targets were hit, but Excalibur has activated earlier with another one. So will we see a another high next week? We'll have to wait and see!

We'll be back with the KOG report on Sunday. Wishing you all a great weekend.

As always, trade safe.

KOG