XAUUSD - KOG REPORT UPDATE:

Quick update from us here at KOG with what to look out for in the remainder of the sessions.

As you can see the scenario we gave on the KOG report where we suggested the indication on the long would be the break of the 1850 level to the upside, then the retest which gave the long entry and the target being 1865 which was hit. We then suggested that if this target acted as resistance we felt this would be an opportunity to short the market back down into the support levels below. The move played out to perfection with the price now attempting to breach the 1850 level to the downside. We would suggest you wait for the daily close now to see whether we close above or below the 1850 level.

As it stands we have indications of further movement to the upside so we will be trading with caution like we suggested for this week.

As always, trade safe.

KOG