XAUUSD 1H - Levels

Gold is moving as we suggested in our Daily KOG report. We're now at a point where going long is very risky. We have identified some short term turning points on Gold where we would expect a reversal to come down and test lower support levels.

1797 is the first level we would look for resistance to form and above that 1808-10 where if we do see more bullish momentum we should face some resistance.

We're only looking for shorts now unless the price breaks above the 1830 level and closes. Until then we feel there is a more room for Gold to go lower.

As always, trade safe.

KOG