In last weeks KOG Report we said we would be expecting more bullish momentum in Gold and would be looking for the price to find support at the lower levels before hitting our Excalibur targets at 1829 and 1841. We hit the targets we mentioned last week but without visiting the support levels below. We also said breaking the 1850-55 level would lead the price to gain even more momentum and touch the higher levels of 1870-85. As you can see we’ve stopped just shy of the 1870 level hitting 1868 and finding resistance.
So what can we expect in the week ahead?
We’re going to start by saying we’re still bearish on Gold, however, we can see indications and have Excalibur targets above. We’re going to add a chart on our group showing only the Excalibur targets illustrated so you can see what we’re looking at.
We would imagine there to be some pullbacks this week with support levels first around the 1845-50 region and below that the 1840-35 price region. These price points would represent good levels to target if you’re shorting the market next week in our view. We have higher price indications of 1874 above that 1881 and above that 1910!! This also coincides with the potential daily trend we’re in which we have highlighted on the chart. These higher price points we feel would represent good targets to aim for if you’re going long in the market. We will be looking for the pullback which we feel is overdue and once price finds support at the levels mentioned we will be looking to go long for the higher Excalibur targets. If however, the price goes up first we will be looking to short the market for you lower levels.
Below is the weekly chart we shared a few weeks ago. As you can see on this chart we’ve broken through the key liquidity area which for the short term can now be used a support zone and it looks like that price wants to target the higher liquidity region of around 1900. This again falls in line with the Excalibur target we have around the 1910 price point.
At this price point we feel its best to play this market level to level rather than trying to catch the big moves.
As always, trade safe.
KOG
So what can we expect in the week ahead?
We’re going to start by saying we’re still bearish on Gold, however, we can see indications and have Excalibur targets above. We’re going to add a chart on our group showing only the Excalibur targets illustrated so you can see what we’re looking at.
We would imagine there to be some pullbacks this week with support levels first around the 1845-50 region and below that the 1840-35 price region. These price points would represent good levels to target if you’re shorting the market next week in our view. We have higher price indications of 1874 above that 1881 and above that 1910!! This also coincides with the potential daily trend we’re in which we have highlighted on the chart. These higher price points we feel would represent good targets to aim for if you’re going long in the market. We will be looking for the pullback which we feel is overdue and once price finds support at the levels mentioned we will be looking to go long for the higher Excalibur targets. If however, the price goes up first we will be looking to short the market for you lower levels.
Below is the weekly chart we shared a few weeks ago. As you can see on this chart we’ve broken through the key liquidity area which for the short term can now be used a support zone and it looks like that price wants to target the higher liquidity region of around 1900. This again falls in line with the Excalibur target we have around the 1910 price point.
At this price point we feel its best to play this market level to level rather than trying to catch the big moves.
As always, trade safe.
KOG
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
