KOG REPORT UPDATE

End of day update from us here at KOG:

Going to try our best to put this into words....WOW, BOOM, would love to say TAP AND BOUNCE but that was some stretch that could only be caught on the way down and if you did manage to get in like some of our traders, they're done for the month if not the next few months.

Our target level is now completed to the upside for the week as well as the target level we gave on the monthly chart. On the flip, we said the ideal scenario would be to swing short and we've hit our immediate short targets as well while the price is trying to find some form of base.

So what now? The main support level here is 2022 and below that 2020-18 which is wanted we want to complete the swing short target. However, price does need to retrace after this move so a move into the order region 2050-55 is on the cards and this is where we want to monitor the price. Break above and we're back on to test 2080-85 which will need to break for us to target the highs again. Otherwise, resistance in the order region and we should see this complete the move back down to target the 2005-10 level.

Very difficult to trade unless you're getting the right levels for entries and your risk model in on point.