XAUUSD - KOG REPORT!

KOG Report:

09/10/22

In last weeks KOG Report we said we would be remaining bearish and would be expecting a small run at some point to break above the 1700 level short term. We suggested caution as there were signs of a bullish reversal on price so shorts were to be placed level to level. As you can see we got that small bull run up to break the 1700 level but the move could not be sustained with gold closing a fraction below the 1695 level.

So, what can we expect in the week ahead?

We’ll remain with the same set up as last week but this week our levels will be brought closer together. We’re going to keep it simple and say we can see another push up in price but want to see how low we go before the turn. The levels sticking out to us the same level that we shared for the NFP KOG report, so we will share that chart with you again.

Our plan this week will be again to short the market only from the higher resistance levels while looking for a firm support below before the price then attempting to break that 1700 level again, and stay above it. Again, like last week, we’re still bearish on Gold, still looking for lower pricing, however, we want the liquidity pool from above cleared before another drop in price.

As we said, a short report this week, not much has changed in terms of plans. We’ll update traders as we go along so we'll keep it short.


Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.

As always, trade safe.

KOG