XAUUSD - KOG REPORT UPDATE:
End of day update from us here at KOG:
We managed to get the short levels as we anticipated except for that 1790 level which remains. For now, we would suggest caution as its the last day of the month, the first day of a new month tomorrow as well as the weekly close. A lot going on and as you can see there is a lot of position covering taking place! The plan to come down to this level is nearly complete but we are now selling with caution. Look for the resistance levels to hold for this to go down, a test on that 1780-90 level would be great but lets not hold on for it. We can see a turn coming soon as there is still a pool above that needs tapping into before we then may face further declines.
From Camelot this morning:
XAUUSD 30/06/22 1H
Support: 1816 / 1810 / 1806 / 1802 / 1797
Resistance: 1820 / 1825 / 1832 / 1837 / 1841 / 1850 / 1863
KOGs Bias for the day:
Bearish below 1837 with targets below, 1810, 1806 and below that 1797
Bullish on break and close of 1837 with target above, 1850 and above that 1865
Summary:
Last day of the month so expect the unexpected! The range is big and the swing based on the 4H structure can be 500-600pips either way. Range high is 1875 with the range low being around 1780-85. As mentioned this morning, 1806 and 1803 are important levels of reaction!
We managed to get the short levels as we anticipated except for that 1790 level which remains. For now, we would suggest caution as its the last day of the month, the first day of a new month tomorrow as well as the weekly close. A lot going on and as you can see there is a lot of position covering taking place! The plan to come down to this level is nearly complete but we are now selling with caution. Look for the resistance levels to hold for this to go down, a test on that 1780-90 level would be great but lets not hold on for it. We can see a turn coming soon as there is still a pool above that needs tapping into before we then may face further declines.
From Camelot this morning:
XAUUSD 30/06/22 1H
Support: 1816 / 1810 / 1806 / 1802 / 1797
Resistance: 1820 / 1825 / 1832 / 1837 / 1841 / 1850 / 1863
KOGs Bias for the day:
Bearish below 1837 with targets below, 1810, 1806 and below that 1797
Bullish on break and close of 1837 with target above, 1850 and above that 1865
Summary:
Last day of the month so expect the unexpected! The range is big and the swing based on the 4H structure can be 500-600pips either way. Range high is 1875 with the range low being around 1780-85. As mentioned this morning, 1806 and 1803 are important levels of reaction!
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🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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