XAUUSD - KOG REPORT UPDATE:

Quick end of day update from us here at KOG.

So as we suggested yesterday in the KOG report, if the price went up on open towards that 1855-65 region we would be looking for resistance to short the market back down with the first target being the 1850-55 level and below that 1840. The move had given between 40-70pips depending on where and if you entered and we have suggested moving the stop to entry and taking partial profits on the trade.

We won't expect much more movement from the markets now as its a US holiday and volume will reduce even further. We'll stick with the scenario where we're short from above for now and will update as we go along. We have a long indication on Silver so if Gold follows it could potentially mean we're going to see a short term bottom at one of the support levels below before we go up to test the 1870+ level. No bias at the moment as its the end of the month and we're in a tight range, lets just trade it level to level.

Lets see where we close today!!

We'll be back tomorrow with our update.

As always, trade safe.

KOG