THE KOG REPORT - Update

End of day update from us here at KOG:

We’ve been concentrating on Camelot most of this week and what a week it’s been. We remained with the chart posted on the KOG Report where we planned the range boxes as well as the red boxes and expected price to play the move. As you can see, we managed to come down into the target level we wanted, where we also added the green box, got the RIP, TAP AND BOUNCE and consequently preceded to complete the move upside into the red region.

We’re now above the red and amber regions but price is extremely stretched at the moment with the mean being dragged upside. For that reason, we’ll say that resistance is above at the 4830-40 red box defence, which if attacked may give us another possible RIP downside.

Support below stands at the 4750 level which is the level that needs to break, and if broken will take us all the way back down into the 4620-40 region again before attempting to go up. We’re too high to long now, so we’ll keep an eye on the indicators, if they align, we would rather look to short for until NY tomorrow.

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As always, trade safe.

KOG

KnightsofGold

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