XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

In yesterday's update we said we would stick with the plan and the path shown looking for the price to tap into the 1795 region before we see another reaction in price. The lower support regions held as mentioned this morning in the review and maintained the bullish above view to hit the price region we wanted! If you're following us we would say that's it, we've had a wonderful trade to the downside with a TAP AND BOUNCE the KOG way up no into the region we ideally wanted. We have some news tomorrow that will likely move the markets, so lets stick with the plan for now.

From Camelot this morning:

XAUUSD 08/12/22 1H

Support: 1780 / 1777 / 1775 / 1771 / 1767 / 1760 / 1755 / 1750

Resistance: 1786 / 1790 / 1786 / 1790 / 1794

KOGs Bias for the day:

Bullish above 1776 with targets above 1785 and above that 1790

Bearish on break and close of 1776 with targets below 1760 and below that 1755

Summary:

1779-76 is key level support for today, this needs to stay above that level to go higher, if this swing is a continuation, then the next impulse move should take this to test 1800 and higher! There is a triangle on the hourly so keep an eye on it, looks like it will make the move over the US session if its in play!