THE KOG REPORT - Update

End of day update from us here at KOG:

Pre-event price action has started so we're witnessing the whipsawing and choppy price action within the range now, which was expected. Yesterday we said we would be looking for the price to come down into support where we were waiting to load up on the long trades to target price region the path on the chart is leading to. These long trades should now be protected with a majority taken, unless you're looking for higher pricing.

We have support below now 2335 and resistance the 2350-55 region where we're expecting price to target initially. It's at this level we want to see how price reacts and whether we want to continue to take it upside, or execute the flip. For now, we're too high up in our region to consider going long so make sure you're plotting the range and the levels to keep you the right way up.

Would like to see 2350 tapped early session with a possible retracement on the cards, but nothing substantial for now.

As always, trade safe.

KOG

Comment:

We suggested not to go long but we wanted higher to get in for the short trade. At the moment, it's level to level on the flip, approaching the target region. Support holds and we could get a temporary bounce, otherwise lower we go!