XAUUSD 1H - Levels

Quick update for the end of the day from KOG.

In the KOG report on Sunday we mentioned we will remain bearish on Gold and highlighted the level were looking at for resistance and the price to begin the decline. You will see we’ve hit the KOG report weekly target of 1810 but that level didn’t hold as support. We’re now expecting the price to run out of steam and potentially begin a bit of a retracement up towards the 1810, 1815 and above that 1827 price levels.

The chart shows what we’re looking for in the remainder of the session as long as the price stay above the 1785 price level.

We’ll end by saying we’re still bearish on this and will trade the longs only into resistance levels as long as the price is below 1830, we’re looking to short this again to lower levels.

We’ll be back tomorrow with another update.

Please check the morning reviews with KOGs bias and levels. They’re really helping traders stay in the right direction on this.

As always, trade safe.

KOG