THE KOG REPORT - UPDATE

End of day update from us here at KOG:

Important close here for gold right on the boundary. A daily close above gives us more opportunities to long the lows into higher pricing, however, looking at the structure this 2045-55 region is a previous order region where we could be on for a reaction in price. For that reason, we're too high for any long trades, below 2050-55 opportunities to short are on the horizon with immediate support levels 2035 and below that 2030 and extension of the move into 2020, which price needs to stay above to go higher. We could see a new range forming here 2050-55 into support region 2030-35 where they may accumulate further so try not to get chopped up in the range.

It's the last week of the month, so defensive trading is needed, stops are important and extreme levels are to be used.

Pair: Date: Timeframe:
XAUUSD 28/11/23 1H

Support: 2012 / 2009 / 2002 / 1999 / 1995 / 1990 / 1988 / 1985 / 1978

Resistance: 2015 / 2020 / 2022 / 2027 / 2030 / 2034 / 2037


Price: 2015

KOG’s Bias for the day:


Bullish above 2001 with targets above 2020 and above that 2026

Bearish on break of 2001 with targets below 1990 and below that 1985

As always, trade safe.

KOG