XAUUSD - KOG REPORT UPDATE:

Quick end of day update from us here at KOG.

Another volatile day on the markets across the board with Gold now having completed the retracement of the whole move that we witnessed on Friday. In yesterdays KOG report we suggested the short trade into the 1855 and 1850 level where we ideally wanted to look for a long trade to go back up to target 1880 and 1885. This morning we identified a structure on the charts and said we would not be going long, rather we can see the price targeting that 1830-25 level before then trying to recover. We got a nice trade down on the short giving traders over 200pips and now we're looking for this support level to hold to target at least the 1835-1840 level.

At the moment we're long from 1825 with partial profits taken and stop to entry.

As always, trade safe.

KOG