XAUUSD - KOG REPORT UPDATE:

Quick end of day update from us here at KOG:

As we suggested yesterday in the KOG report we could see Gold giving the undercut low and for that reason suggested that a test on that 1855 level will likely hold and then we may see a decline in the precious metal. We had a Excalibur target below which has now been hit, however, we have one slightly lower than here too, which entails caution. We suggested the 1835 price level as support which is also a weekly support so we're likely to see a reaction in price there. What we need to see is how this closes on the daily chart today and if we hit that 1835 level. Break of 1835 and we'll go lower into 1820-25.

So far so good, we're going to plan, shorts with tight stops into support and Excalibur levels with the intention to catch the long trade and take this up. As you know markets change and we have to adapt so if anything changes we'll update our plans accordingly.

As always, trade safe.

KOG